Global Energy Roundup: LNG Finance, Project Funding, and Corporate Restructuring

Venture Global Inc. has secured a $1.75 billion credit facility for its Calcasieu Pass LNG project in Louisiana, according to Rigzone. The company stated the loan reduces its overall cost of capital and strengthens its balance sheet. Venture Global reported record 2025 results, with LNG sales increasing 181 percent to 1,409 trillion British thermal units and revenue rising 177 percent to $13.8 billion. The company exported 380 cargoes last year and expects to ship 486-527 cargoes in 2026, with 145-156 coming from Calcasieu Pass.

The Calcasieu Pass project, which began production in 2022, holds a Department of Energy permit to export up to 12.4 million metric tons per annum of LNG. Venture Global is also targeting a commercial operation date in Q4 2026 for Phase I of its larger Plaquemines LNG project, which received DOE authorization in March 2026 to export 27.2 MMtpa. The expansion of U.S. LNG export capacity is a critical outlet for domestic natural gas, including potential future production from associated gas in the Bakken formation.

In Australia, Buru Energy Ltd. has received a commitment for a share offering to raise approximately AUD 5.3 million ($3.8 million) for its Rafael Gas Project, Rigzone reported. The onshore project in the Canning Basin is estimated to hold about 85 billion cubic feet of natural gas and 1.8 million stock tank barrels of liquids, with first production targeted for 2029. Buru stated that recent engineering studies have "significantly enhanced the project’s economics" by identifying additional liquids and LPG streams.

Buru has pushed back its drilling timeline to secure optimal funding, prioritizing "long-term shareholder value over shorter-term funding concessions." The company obtained environmental approval for appraisal drilling in September 2025 and announced a co-development deal with CEFA in April 2025. The progress of international onshore gas projects like Rafael highlights the global competition for development capital and the focus on integrated gas and liquids production.

In the North Sea, Spirit Energy has proposed restructuring its UK organization into two separate companies, according to Rigzone. One would manage the Morecambe Hub gas fields, while the other would advance a carbon storage business. The move follows Spirit's agreement to sell a portfolio of Southern North Sea assets to Serica Energy, a deal announced in December 2025 with an expected completion in the second half of 2026.

Serica Energy is acquiring the assets, including a 15 percent interest in the large Cygnus gas field, for an upfront consideration of GBP 57 million. Serica CEO Chris Cox said the assets add over 15 percent to the company's reserves and feature low operating costs and potential for infill drilling. Corporate restructuring and asset transactions in mature basins like the North Sea demonstrate the ongoing optimization of portfolios and separation of traditional production from emerging energy transition businesses, a trend being watched by operators worldwide.