Stonepeak has sold approximately $2.5 billion in private bonds to refinance construction debt tied to its Louisiana liquefied natural gas export terminal. The private placement, arranged by Mizuho Financial Group and RBC, will fund the under-construction facility in Calcasieu Parish, a major petrochemical hub in southwest Louisiana.

The financing supports Stonepeak's 40% acquisition of the project from Australian energy firm Woodside Energy Group, announced in April 2025. Woodside confirmed the debt doesn't appear on the LNG project's books. Construction began in 2022, with first shipments expected in 2029. This marks Woodside's first LNG export venture outside Australia, positioning the company to control roughly 5% of global production by the 2030s.

Private placement markets are gaining traction among energy developers seeking customized financing terms. A recent Texas LNG facility similarly issued $2 billion in private bonds for construction refinancing. These deals bypass public market standardization, allowing companies to negotiate pricing and conditions that better match their capital needs and timeline requirements.

The transaction reflects growing investor appetite for energy infrastructure debt despite volatile commodity markets. Private placements offer flexibility for multi-billion-dollar projects requiring extended construction periods before generating revenue.