Venture Global LNG raises additional capital
Published by Will Owen,
Venture Global LNG, Inc. announces that it has raised US$675 million of additional capital from world-class institutional investors.
The capital will be used primarily for the further development of the company’s 20 million tpy Plaquemines LNG export project in Plaquemines Parish, Louisiana. In addition to the US$855 million of capital previously raised at Venture Global LNG and the US$1.3 billion project-level equity commitment from Stonepeak Infrastructure Partners for the company’s Calcasieu Pass LNG project, Venture Global LNG has now raised total committed capital of over US$2.8 billion to support the development of its LNG export facilities.
Co-CEOs Mike Sabel and Bob Pender jointly stated, “With the expansion of our Plaquemines LNG sales and purchase agreement (SPA) with PGNiG to 2.5 million tpy and in anticipation of additional near-term commercialisation, we are excited to add significant new resources as we prepare to commence early works at Plaquemines later this year.”
The 20 million tpy Plaquemines facility will employ a comprehensive process solution from Baker Hughes, a GE company (BHGE) that utilises highly efficient mid scale, modular, factory-fabricated liquefaction trains in an identical configuration to its Calcasieu Pass LNG project, currently under construction in Cameron Parish, Louisiana. The Final Order for Plaquemines LNG from the US Federal Energy Regulatory Commission (FERC) is currently scheduled to be issued no later than 1 August 2019.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/28062019/venture-global-lng-raises-additional-capital/
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