Venture Global LNG Raises $675 Million of Additional Capital

General Press Releases Friday June 28, 2019 10:50
ARLINGTON, Virginia--28 Jun--PRNewswire/InfoQuest

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

Latest Press Release

Seafood Weekend BBQ at Le Meridien Suvarnabhumi

Every Friday and Saturday, don't miss our buffet and barbecue evenings featuring exclusive seafood and meat cuts such as river prawns, squid, Norwegian salmon, sea bass, tuna, Australian lamb and beef, other barbecue specials from our charcoal grill plus...

AIS joins MHESI - PSU and NBTC enter to the south! First Live demonstration show Remote Control Vehicle from Bangkok - Hat Yai via 5G Launching a prototype innovation, enhancing the digital infrastructure

AIS continues to reinforce the No. 1 leader in network innovation and real technology, moving to the South by bringing digital technology and services of the era to strengthen the South, together with the government and education sectors, which consists...

Denla British School Announces Its Readiness to Provide A Global Standard Quality of Education in Thailand

Denla British School (DBS) is ready to nurture happy, high-quality global citizens and future leaders. With its Enhanced British Curriculum that all taught by expertise, English native teachers, DBS delivers academic excellence in languages, mathematics,...

Photo Release: Farmers and agents visited CP Bangladeshs fish feed mill.

22 farmers and sales agents from northern part of Bangladesh went to witness the modern technology of Bogura aqua feed mill . Bogura plant is a new-built plant of C.P. Bangladesh providing good quality and safe products, traceable and environmental...

Borderline Becomes Southeast Asia#s First Contemporary Artwork to be Acquired by France#s Guimet Museum

Vietnamese art installation "Borderline" has become the first Southeast Asian artwork to be acquired by the esteemed Guimet Museum in Paris. Since April 2019, this exclusive collaboration between designer Yen Khe and the Haute-lacquer brand Hanoia has...

Related Topics