Venture Global LNG Announces Additional Private Placement Funding of $160 Million: Aggregate Funding Total Reaches $630 Million

General Press Releases Friday August 17, 2018 09:00
ARLINGTON, Virginia--17 Aug--PRNewswire/InfoQuest

Venture Global LNG, Inc. announces that it has raised additional private capital of approximately $160 million from large institutional investors. The company has now raised a total of $630 million to support the development of its projects.

The transaction proceeds will fund Venture Global LNG's continued development activities for its proposed LNG export facilities in Louisiana. The company is developing both the 10 MTPA Calcasieu Pass facility on the Gulf of Mexico and the 20 MTPA Plaquemines LNG facility on the Mississippi River using a highly efficient, mid-scale liquefaction technology provided by its strategic partner GE Oil & Gas, LLC, part of Baker Hughes, a GE company (BHGE).

In response to the capital raise, Co-CEO Mike Sabel stated, "Both new and existing investors recognize our quality execution as we continue signing binding 20-year agreements for the purchase of LNG from our Calcasieu Pass and Plaquemines projects. Our growing list of world-class partners, which includes Shell, BP, Edison S.p.A., Galp, and PGNiG, among others, can feel confident in our ability to deliver the lowest cost LNG from North America."

Co-CEO Bob Pender added, "Following receipt of the Draft Environmental Impact Statement for our Calcasieu Pass project in June, we are preparing for our FERC authorization and the commencement of construction in early 2019. The contracting momentum for our Plaquemines project continues to grow, and we expect to announce additional milestones in the near term."

About Venture Global LNG

Venture Global LNG is a long-term, low-cost provider of LNG to be supplied from resource rich North American natural gas basins. Venture Global LNG's liquefaction process system will employ a highly efficient and reliable suite of products supplied by GE Oil & Gas, LLC, part of Baker Hughes, a GE company (BHGE). Venture Global LNG is developing both the 10 MTPA Venture Global Calcasieu Pass facility (on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico) and the 20 MTPA Venture Global Plaquemines LNG facility (on an approximately 630-acre site in Plaquemines Parish, Louisiana, 30 miles south of New Orleans on the Mississippi River). Venture Global has raised $630 million of capital to-date to support the development of its projects. More can be found at www.venturegloballng.com .


Latest Press Release

Photo Release: Centara Pattaya Hotel celebrated 8th years anniversary

Centara Pattaya Hotel marked its eighth anniversary. The activity featured symbolic Buddhist traditions including a merit-making ceremony and offering of alms to the monks. To bid the old year adieu, staff members also received blessings from the...

MUSIC FOR MYANMAR FUND-RAISING CONTRIBUTION TO NLD - AIDS CENTER (NAC)

Link for Aid Myanmar and Chatrium Hotel Royal Lake Yangon have made a donation with the funds raised from the 2017/18 Music for Myanmar Charity Event to the NLD-AIDS Center to assist them in building a much-needed new wall for their complex (worth USD...

ภาพข่าว: ความร่วมมือ

ดร.บุญรักษ์ ยอดเพชร เลขาธิการคณะกรรมการการอาชีวศึกษา ให้การต้อนรับ Mr.Gerald Yeo Senior Director, Programme & Partnerships Temasek Foundation International, Mr.Leow Ling Hui Senior Executive, South East Asia (Indo-China) Institute of Technical...

Photo Release: Ministry of Commerce and Thai businesses visit CPF India

Miss Chutima Bunyapraphasara, Deputy Minister of Commerce and Mr. Nitirooge Phoneprasert, Consul-General for Chennai, India led Thai businesses visited CPF India to learn more aquaculture business and seek investment opportunities in India. The visitors...

Photo Release: Ministry of Commerce and Thai businesses visit CPF India

Miss Chutima Bunyapraphasara, Deputy Minister of Commerce and Mr. Nitirooge Phoneprasert, Consul-General for Chennai, India led Thai businesses visited CPF India to learn more aquaculture business and seek investment opportunities in India. The visitors...

Related Topics