Page 12 - NorthAmOil Week 29

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NEWS IN BRIEF
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and has completed all necessary preparations to place these facilities in-service. Cameron has completed all necessary functional
and performance tests for these facilities demonstrating that the facilities can operate safely as designed.
CAMERON LNG, July 22, 2019
Venture Global secures
binding commitments of
over $10bn for its $5.8bn
Calcasieu Pass LNG
construction financing
Venture Global LNG is proud to announce that the company’s $5.8bn Calcasieu Pass LNG construction nancing has received over $10bn in binding commitments from Initial Coordinating Lead Arrangers. e transaction is nearly two times oversubscribed, prior
to retail syndication. e proceeds of the construction nancing, along with the equity investment from Stonepeak Infrastructure Partners, will fund the construction and commissioning of the Calcasieu Pass facility and the associated TransCameron pipeline.
e lender group includes the world’s leading Asian, European and North American project nance banks.
e bank group is Banco Santander, Bank of America, Goldman Sachs Bank USA, Industrial & Commercial Bank of China, ING Capital, JPMorgan Chase Bank, Mizuho Bank, Morgan Stanley Senior Funding, Natixis, Nomura Securities International, Royal Bank of Canada, Sumitomo Mitsui Banking and the Bank of Nova Scotia.
Venture Global LNG co-CEOs Mike Sabel and Bob Pender jointly stated: “ e incredible market response to our Calcasieu Pass debt facility is the culmination of many years of work by our team. We are incredibly proud that the world’s leading project nance institutions have responded with such a validation of the quality of our structure
and partners with outstanding terms and a
signi cant oversubscription. e company has now secured more than $8.6bn of capital and is continuing full construction and fabrication activity at Calcasieu Pass.”
e 10 mtpa Venture Global Calcasieu Pass facility will employ a comprehensive process solution from Baker Hughes, a GE company (BHGE) that utilises highly e cient mid- scale, modular, factory-fabricated liquefaction trains. Kiewit is designing, engineering, constructing, commissioning, testing and guaranteeing the facility. Calcasieu Pass has received all necessary permits, including FERC authorization and Non-FTA export authorisation from the US Department
of Energy. Venture Global LNG is also developing the 20 mtpa Plaquemines LNG project and the 20 mtpa Delta LNG project, both in Plaquemines Parish, Louisiana. VENTURE GLOBAL LNG, July 19, 2019
SERVICES
Chevron awards OneSubsea 20-year subsea equipment and services master contract for the Gulf of Mexico
Schlumberger announced today an award
by Chevron USA of a 20-year subsea equipment and services master contract for subsea development projects in the Gulf of Mexico. Combining this master contract with a preapproved catalog of standard subsea equipment will enable Chevron to decrease operating costs in its subsea projects.
e provision of a OneSubsea® custom catalog of equipment will also include innovative technologies that meet Chevron’s project requirements, including high- temperature projects or high-pressure projects requiring equipment that can withstand up to 20,000 psi.
“We look forward to continuing our
technology collaboration with Chevron to optimize project e ciency and reduce cycle times in its future Gulf of Mexico subsea projects, from concept through life-of-
eld services,” said Don Sweet, president, OneSubsea.
e equipment in the OneSubsea catalog includes multiphase boosting systems
and owmeters, subsea production trees, manifolds, controls and connections systems. SCHLUMBERGER, July 23, 2019
MOVES
FERC reorganises to create new LNG division
Federal Energy Regulatory Commission (FERC) Chairman Neil Chatterjee announced today that the agency is creating a new division in its O ce of Energy Projects to accommodate the growing number and complexity of applications to site, build and operate lique ed natural gas export terminals.
e new Division of LNG Facility Review & Inspection (DLNG) will consist of 20 existing LNG sta members in Washington, D.C., and eight additional full-time sta ers recruited in the Houston area and based in a new Houston Regional O ce.
“As the demand for U.S. LNG and
the number and complexity of project applications has grown, the Commission has experienced a similar growth in the need
for FERC to expand its oversight in this program area,” Chatterjee said. “Much of the work related to these LNG projects, and the expertise it requires, is based in and around Houston, the so-called ‘Energy Capital of the World.’ For that reason, a er careful research and evaluation, the Commission has determined we should direct our newest e orts to recruiting sta in the area to build upon the good work already being done on these issues at our D.C. headquarters.’”
As recently as April 2018, FERC had
13 sta dedicated to working on LNG engineering and review issues. at number has since grown to 20 sta ers whose e orts are critical to completing engineering reviews, coordinating safety reviews with
the Pipeline and Hazardous Materials
Safety Administration at the Department of Transportation, and preparing engineering analyses for inclusion in environmental documents. e creation of DLNG and expansion in Houston will help prepare FERC for the additional work necessary once LNG project applicants make nal investment decisions and move toward construction.
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Week 29 25•July•2019