[Federal Register Volume 84, Number 203 (Monday, October 21, 2019)]
[Notices]
[Pages 56184-56185]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-22855]
-----------------------------------------------------------------------
DEPARTMENT OF ENERGY
[FE Docket Nos. 13-69-LNG, 14-88-LNG, and 15-25-LNG]
Venture Global Calcasieu Pass, LLC
AGENCY: Office of Fossil Energy, DOE.
ACTION: Notice of change in control.
-----------------------------------------------------------------------
SUMMARY: The Office of Fossil Energy (FE) of the Department of Energy
(DOE) gives notice of receipt of a Notification Regarding Equity
Ownership Change in Accordance with Procedures for Change in Control
(Notice) filed September 6, 2019, by Venture Global Calcasieu Pass, LLC
(Calcasieu Pass) in the above-referenced dockets. The Notice describes
a change in control of Stonepeak Partners LP (Stonepeak), as well as an
internal reorganization implemented in connection with the debt and
equity financing of the Calcasieu Pass liquefied natural gas (LNG)
export project (Project). The Notice was filed under section 3 of the
Natural Gas Act (NGA), 15 U.S.C. 717b.
DATES: Protests, motions to intervene, or notices of intervention, as
applicable, and written comments are to be filed using procedures
detailed in the Public Comment Procedures section no later than 4:30
p.m., Eastern time, November 5, 2019.
ADDRESSES:
Electronic Filing by email: [email protected].
Regular Mail: U.S. Department of Energy (FE-34), Office of
Regulation and International Engagement, Office of Fossil Energy, P.O.
Box 44375, Washington, DC 20026-4375.
Hand Delivery or Private Delivery Services (e.g., FedEx, UPS,
etc.): U.S. Department of Energy (FE-34), Office of Regulation and
International Engagement, Office of Fossil Energy, Forrestal Building,
Room 3E-042, 1000 Independence Avenue SW, Washington, DC 20585.
FOR FURTHER INFORMATION CONTACT:
Benjamin Nussdorf or Amy Sweeney, U.S. Department of Energy (FE-34),
Office of Regulation and International Engagement, Office of Fossil
Energy, Forrestal Building, Room 3E-042, 1000 Independence Avenue SW,
Washington, DC 20585, (202) 586-7893; (202) 586-2627.
Cassandra Bernstein or Kari Twaite, U.S. Department of Energy (GC-76),
Office of the Assistant General Counsel for Electricity and Fossil
Energy, Forrestal Building, 1000 Independence Avenue SW, Washington, DC
20585, (202) 586-9793; (202) 586-6978.
SUPPLEMENTARY INFORMATION:
Summary of Change in Control
As noted above, Calcasieu Pass filed a Notice in the above-
referenced dockets.\1\ In the Notice, Calcasieu Pass states Calcasieu
Pass now is a wholly-owned subsidiary of Calcasieu Pass Pledgor, LLC,
which is in turn a wholly-owned subsidiary of Calcasieu Pass Holdings,
LLC. Stonepeak has made equity investments totaling $1.3 billion, in
Calcasieu Pass Holdings, LLC and Calcasieu Pass Funding, LLC, effective
August 19, 2019.
---------------------------------------------------------------------------
\1\ Venture Global Calcasieu Pass, LLC, FE Docket Nos. 13-69-
LNG, 14-88-LNG, and 15-25-LNG, Notice of Change in Control (Sept. 6,
2019) [hereinafter Calcasieu Pass Notice].
---------------------------------------------------------------------------
Calcasieu Pass Holdings, LLC has two members: One member, Calcasieu
Pass Funding, LLC, owns all the common units of the company. The other
member, Stonepeak Bayou Holdings LP, a Delaware limited partnership
affiliated with Stonepeak, owns all the preferred units of the company.
The preferred units will convert into common units upon the commercial
operation date of the Project and will constitute a minority of the
total common units of the company at that time (but more than ten
percent).
Calcasieu Pass Holdings, LLC is managed and directed by a board of
three managers: Two designated by Calcasieu Pass Funding, LLC and one
designated by Stonepeak Bayou Holdings, LP. Under certain extraordinary
circumstances such as events of default and material breaches or
termination of key Project contracts, Stonepeak Bayou Holdings LP would
obtain the right to appoint a majority of the board of managers of
Calcasieu Pass Holdings, LLC for a limited period of time lasting until
thirty days after such circumstances are no longer continuing, at which
time Calcasieu Pass Funding, LLC will once again have the right to
appoint a majority of the board of managers. In addition, the manager
designated by Stonepeak Bayou Holdings LP generally has the right to
direct Calcasieu Pass Holdings, LLC and its subsidiaries with respect
to certain uncured material breaches or defaults by Venture Global LNG,
the ultimate parent company of Calcasieu Pass, or its affiliates under
contracts to which Venture Global LNG and its affiliates are party that
have an adverse impact on the Project.
Calcasieu Pass Funding, LLC, in turn, also has two members. All of
its common units are owned by Venture Global Calcasieu Pass Holding,
LLC, which is a direct, wholly-owned subsidiary of Venture Global LNG.
All of the company's preferred units, which are redeemable over time,
are owned by Stonepeak Bayou Holdings II LP, another Delaware limited
partnership affiliated with Stonepeak. All of the company's business
and affairs, however, are generally managed by the holder of its common
units.
Additional details can be found in Calcasieu Pass' Notice, posted
on the DOE/FE website at: https://www.energy.gov/sites/prod/files/2019/09/f66/Calcasieu_Pass_CIC_Notice_9619.pdf (Sept. 6, 2019).
DOE/FE Evaluation
DOE/FE will review Calcasieu Pass' Notice in accordance with its
Procedures for Changes in Control Affecting Applications and
Authorizations to Import or Export Natural Gas (CIC Revised
Procedures).\2\ Consistent with the CIC Revised Procedures, this notice
addresses only the authorizations granted to Calcasieu Pass to export
liquefied natural gas (LNG) to non-free trade agreement (non-FTA)
countries in DOE/FE Order No. 4346 (FE Docket Nos. 13-69-LNG, 14-88-
LNG, and 15-25-LNG, respectively). If no interested person protests the
change in control and DOE takes no action on its own motion, the change
in control will be deemed granted 30 days after publication in the
Federal Register. If one or more protests are submitted, DOE will
review any motions to intervene, protests, and answers, and will issue
a determination as to whether the proposed change in control has been
demonstrated to render the underlying authorization inconsistent with
the public interest.
---------------------------------------------------------------------------
\2\ 79 FR 65541 (Nov. 5, 2014).
---------------------------------------------------------------------------
Public Comment Procedures
Interested persons will be provided 15 days from the date of
publication of this notice in the Federal Register in order to move to
intervene, protest, and answer Calcasieu Pass' Notice. Protests,
motions to intervene, notices of intervention, and written comments are
invited in response to this notice only as to the change in control
described in Calcasieu Pass' Notice, and only with
[[Page 56185]]
respect to Calcasieu Pass' non-FTA authorization in DOE/FE Order No.
4346.\3\ All protests, comments, motions to intervene, or notices of
intervention must meet the requirements specified by DOE's regulations
in 10 CFR part 590.
---------------------------------------------------------------------------
\3\ Intervention, if granted, would constitute intervention only
in the change in control portion of this proceeding, as described
herein.
---------------------------------------------------------------------------
Filings may be submitted using one of the following methods: (1)
Preferred method: emailing the filing to [email protected], with the
individual FE Docket Number(s) in the title line, or Venture Global
Calcasieu Pass Change in Control in the title line to include all
applicable dockets in this notice; (2) mailing an original and three
paper copies of the filing to the Office of Regulation, Analysis, and
Engagement at the address listed in ADDRESSES; or (3) hand delivering
an original and three paper copies of the filing to the Office of
Regulation, Analysis, and Engagement at the address listed in
ADDRESSES. All filings must include a reference to the individual FE
Docket Number(s) in the title line, or Venture Global Calcasieu Pass
Change in Control in the title line to include all applicable dockets
in this notice. PLEASE NOTE: If submitting a filing via email, please
include all related documents and attachments (e.g., exhibits) in the
original email correspondence. Please do not include any active
hyperlinks or password protection in any of the documents or
attachments related to the filing. All electronic filings submitted to
DOE must follow these guidelines to ensure that all documents are filed
in a timely manner. Any hardcopy filing submitted greater in length
than 50 pages must also include, at the time of the filing, a digital
copy on disk of the entire submission.
Calcasieu Pass' Notice and any filed protests, motions to
intervene, notices of intervention, and comments are available for
inspection and copying in the Office of Regulation, Analysis, and
Engagement docket room, Room 3E-042, 1000 Independence Avenue SW,
Washington, DC 20585. The docket room is open between the hours of 8:00
a.m. and 4:30 p.m., Monday through Friday, except Federal holidays.
The Notice and any filed protests, motions to intervene, notices of
intervention, and comments will also be available electronically by
going to the following DOE/FE Web address: http://www.fe.doe.gov/programs/gasregulation/index.html.
Issued in Washington, DC, on October 15, 2019.
Amy Sweeney,
Director, Office of Regulation, Analysis, and Engagement, Office of Oil
and Natural Gas.
[FR Doc. 2019-22855 Filed 10-18-19; 8:45 am]
BILLING CODE 6450-01-P