Venture Global Secures $1.75B Loan, Buru Raises Funds, Spirit Proposes Split

Venture Global LNG Inc. announced its subsidiary has secured a $1.75 billion credit facility for the Calcasieu Pass LNG project in Louisiana, according to Rigzone. The company stated the loan reduces its cost of capital and strengthens its balance sheet. CEO Mike Sabel said the deal demonstrates the firm's ability to access capital markets efficiently.

The company reported record 2025 results, with LNG sales increasing 181 percent to 1,409 trillion British thermal units. Revenue rose 177 percent to $13.8 billion, and net profit grew 53 percent to $2.3 billion. Venture Global exported 380 LNG cargoes in 2025 and expects to ship 486-527 cargoes in 2026. The Calcasieu Pass project, which began production in 2022, is authorized to export up to 12.4 million metric tons of LNG per year.

Separately, Australia's 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 production targeted for 2029. Outgoing CEO Thomas Nador said engineering studies have enhanced the project's economics by identifying additional liquids and LPG streams.

Buru has adjusted its drilling timeline to capture this increased value in its final funding arrangements. The company has environmental approval for appraisal drilling and a deal with CEFA to co-develop the project, including a liquefaction plant.

In the UK, Spirit Energy has shared a proposal to restructure its UK organization, splitting into two independent companies, according to Rigzone. One would manage the Morecambe Hub gas fields, and the other would advance the Morecambe Net Zero carbon storage business. The company said the change is necessary ahead of the expected completion of its asset sale to Serica Energy in the second half of 2026.

Serica Energy's acquisition of Spirit's Southern North Sea portfolio includes a 15 percent interest in the Cygnus gas field for an upfront consideration of GBP 57 million. Serica CEO Chris Cox described Cygnus as a high-quality, low-cost asset with further drilling potential.

For Bakken operators, these developments underscore the global energy sector's continued focus on securing project financing and optimizing organizational structures to advance production and new energy projects. The capital market access demonstrated by Venture Global and the project-specific funding pursued by Buru reflect a strategic emphasis on strengthening financial positions for long-term development.