Venture Global Inc. has announced the successful closing of its fifth round of equity investment through a private Reg. D transaction.
The offering raised an additional US$15 million, which will be used to fund the company’s LNG development activities for its proposed LNG export plants in Louisiana, US. So far, the total capital raised for the project is over US$280 million.
In a joint statement, Co-CEOs Mike Sabel and Bob Pender, said: “We are pleased to continue to successfully develop and optimise our projects, hit our milestones and, as a result, raise additional equity. In this offering, we are pleased to be joined by a strategic investor who truly understands our business and is aligned with our vision for the future of the LNG industry.”
Venture Global’s proposed Calcasieu Pass LNG facility, located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico, will have a capacity of 10 million tpy. Its 20 million tpy Plaquemines LNG facility will be located in Plaquemines Parish, Louisiana, on an approximately 630 acre site at river mile marker 55 on the Mississippi River, located 30 miles south of New Orleans, Louisiana.
Edited from a press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/22082016/venture-global-raises-additional-capital-2939/