Venture Global LNG, Inc. has closed the third round of equity investment, raising additional financial capital of US$84.5 million.
This brings the total capital raised to over US$210 million. The equity was purchased by institutional investors who collectively manage assets exceeding US$1 trillion. The proceeds will be used to fund the company’s LNG export development in Louisiana, US.
Commenting on the news, William M. Wicker, CEO, said: “With this new financial capital, we significantly strengthen our execution and delivery of low-cost, reliable LNG to the world. Our investors recognise the competitive advantage of our low-cost model and our leadership in providing the best possible value for our global customers.”
Adapted from press release by Katie Woodward