Venture Global LNG Inc. has announced that it has successfully closed its fourth round of equity investments through a private Reg. D transaction.
This round added to the group of high profile, very large institutional investors in the company. The offering raised additional capital of US$55 million, bringing the total capital raised to date to over US$265 million.
Venture Global LNG confirmed that the proceeds will be used to fund development activities for its proposed LNG export facilities in Louisiana, US.
In a joint statement, Co-CEOs Mike Sabel and Bob Pender, said: “This latest equity raise is further affirmation that the market and investors recognise and value our company’s continued execution on significant project milestones, as well as our competitive advantage as the low-cost provider of North American LNG.”
Venture Global LNG is developing the 10 million tpy Venture Global Calcasieu Pass facility on a site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico. It is also developing the 20 million tpy Venture Global Plaquemines LNG facility in Plaquemines Parish, Louisiana on a site located 30 miles south of New Orleans, Louisiana.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/03052016/venture-global-lng-raises-capital-2387/