Venture Global LNG Raises $675 Million of Additional Capital
ARLINGTON, Virginia, June 27, 2019 /PRNewswire/ -- Venture Global LNG, Inc. announces that it has raised $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 tonnes per annum (MTPA) Plaquemines LNG export project in Plaquemines Parish, Louisiana. In addition to the $855 million of capital previously raised at Venture Global LNG and the $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 $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 MTPA and in anticipation of additional near-term commercialization, we are excited to add significant new resources as we prepare to commence early works at Plaquemines later this year."
The 20 MTPA Plaquemines facility will employ a comprehensive process solution from Baker Hughes, a GE company (BHGE) that utilizes 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 U.S. Federal Energy Regulatory Commission (FERC) is currently scheduled to be issued no later than August 1, 2019.
About Venture Global LNG
Venture Global LNG is a long-term, low-cost provider of LNG to be supplied from resource rich North American natural gas basins. Venture Global LNG's liquefaction process system employs a highly efficient and reliable suite of products supplied by BHGE. Venture Global LNG has begun construction of the 10 MTPA Venture Global Calcasieu Pass facility at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico and is developing the 20 MTPA Venture Global Plaquemines LNG facility 30 miles south of New Orleans on the Mississippi River, and the 20 MTPA Venture Global Delta LNG facility, also on the Mississippi River south of New Orleans. Venture Global has raised total committed capital to-date of approximately $2.83 billion to support the development of its projects. More can be found at www.venturegloballng.com.
Logo - https://mma.prnewswire.com/media/825434/VENTURE_GLOBAL_LNG_INC___Logo.jpg
Share this article