Venture Global LNG Announces Regulatory Milestone and Hiring of Project Director for Calcasieu Pass LNG Project

ARLINGTON, Virginia, Oct. 23, 2018 /PRNewswire/ — Venture Global LNG, Inc. announces that the U.S. Federal Energy Regulatory Commission (FERC) has issued the final Environmental Impact Statement (EIS) for the company's 10 MTPA Calcasieu Pass facility on the Gulf of Mexico. On August 31, 2018, FERC notified Venture Global LNG that it plans to issue a Final Order for the Calcasieu Pass facility and the associated TransCameron Pipeline no later than January 22, 2019, in line with the Notice of Revised Schedule for Environmental Review issued on May 18, 2018. The project remains on track for a Final Investment Decision and commencement of construction in early 2019 with full commercial operations expected in 2022.

"FERC's issuance of the final EIS is an important milestone for our Calcasieu Pass project. With the project fully contracted for financing with binding 20-year offtake agreements with Shell, BP, Edison S.p.A., Galp, Repsol and PGNiG, we are looking forward to a Final Investment Decision and commencement of construction early next year," Co-CEOs Bob Pender and Mike Sabel jointly stated.

Separately, the company's 20 MTPA Plaquemines LNG facility and associated Gator Express Pipeline expects to receive its final Environmental Impact Statement on May 3, 2019, according to the Notice of Schedule for Environmental Review issued by FERC on August 31. FERC has established a 90-day Federal Authorization Decision Deadline of August 1, 2019.

Additionally, Venture Global announces that Jim Strohman has joined the company as a Senior Vice President and the Project Director for the Calcasieu Pass LNG export facility. Previously, Mr. Strohman spent 17 years with Dominion Energy where he most recently served as the Project Director for Dominion's Cove Point LNG facility. In that capacity, he directed the execution of the project from FEED finalization and EPC selection through to commissioning and initial project operations. Mr. Strohman is also a retired Commander of the US Navy Reserve, where he served for more than 20 years.

Mr. Sabel and Mr. Pender added: "At Cove Point, Jim directed and delivered – safely, on time and within budget – the largest construction project to date for both Dominion and the state of Maryland, with a budget that exceeded $4 billion, more than 10,000 craft workers and 20 million total work hours. His track record of execution is a very valuable addition to our team."

About Venture Global LNG

Venture Global LNG is a long-term, low-cost provider of LNG to be supplied from resource rich North American natural gas basins. Venture Global LNG's liquefaction process system will employ a highly efficient and reliable suite of products supplied by GE Oil & Gas, LLC, part of Baker Hughes, a GE company (BHGE). Venture Global LNG is developing both the 10 MTPA Venture Global Calcasieu Pass facility (on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico) and the 20 MTPA Venture Global Plaquemines LNG facility (on an approximately 630-acre site in Plaquemines Parish, Louisiana, 30 miles south of New Orleans on the Mississippi River). Venture Global has raised $630 million of capital to-date to support the development of its projects. More can be found at www.venturegloballng.com.

SOURCE Venture Global LNG, Inc.