Matt Levine’s Money Stuff: Venture Global’s Gas Plant Is Done

Venture Global trade

Venture Global Inc. is a liquefied natural gas (LNG) producer in Louisiana with an innovative approach to building LNG plants, one that involves “mid-scale factory-fabricated liquefaction trains” that are “assembled off-site at manufacturing and fabrication facilities in Italy and then shipped to our project sites fully-assembled and packaged for installation,” rather than the traditional approach of building everything onsite. This is efficient as a matter of engineering and construction, but it is also efficient as a matter of financial engineering and contract construction.

The way you finance an LNG plant is that you enter into contracts with ...