Venture Global LNG has announced the successful closing of two rounds of equity investment, bringing a total of US$125 million in new capital to the company.
The equity investors consist of US institutional investors who collectively manage assets over US$130 billion. The proceeds from the investments will fund the development of LNG export facilities in the US, including Venture Global’s Calcasieu Pass Project in Cameron Parish, Louisiana.
Commenting on the financial close, William M. Wicker, CEO of Venture Global LNG, said: “With these private placements, we are closer to meeting our goals of exporting low-cost, American LNG to global markets.
“The new capital positions us well for continued expansion of our global management team, completion of our engineering and design work, execution of our FERC and other regulatory activities, further procurement efforts and securing long-term sales agreements.”
The Calcasieu Pass Project will support the long-term development of clean and reliable North American energy supplies. Full commencement of operations is expected in late 2019.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquefaction/11022015/venture-global-raises-equity-funding-233/