Rigzone: Venture Global Pitches Plan for Cheapest US Gas on the Water

14 February 2019

The company has already inked deals with buyers including Royal Dutch Shell Plc and Spain’s Repsol SA. Analysts, though, say it remains unclear whether Venture Global can attract enough lenders and investors to back the project.

“They’re taking a very aggressive and highly competitive approach, pushing the envelope of what engineers may think is possible,” said Jason Feer, head of business intelligence at ship broker Poten & Partners Inc. in Houston. “They have to convince banks they can execute the project for the cost they’re talking about.”

Venture has raised more than $850 million so far, Sabel said, and secured 20-year contracts for 80 percent of Calcasieu Pass’s export capacity with companies including Shell and BP Plc. “There’s only one definition of success in this discussion,” he added. “And that’s who the market selects to buy their production capacity from.’’

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