Venture Global LNG brings in cash for liquefaction projects
Venture Global LNG garnered $108.6 million in a private placement bringing the company’s aggregate funding total to $470 million.
The transaction proceeds will fund Venture Global LNG’s continued development activities for its proposed LNG export facilities in Louisiana.
The company is developing both the 10 million tons per Calcasieu Pass facility on the Gulf of Mexico and the 20 mtpa Plaquemines LNG facility in Plaquemines Parish using a mid-scale liquefaction technology.
In response to the capital raise, Co-CEO Bob Pender stated, “Following the recent execution of our binding 20-year sales and purchase agreement with Edison (part of the EDF Group), as well as our previous binding 20-year SPA with Shell North America LNG, this private placement gives our buyers high confidence in our ability to deliver the lowest cost LNG from North America to the global market.”
Morgan Stanley & Co. and Goldman Sachs & Co. assisted Venture Global LNG in connection with the private placement.