Venture Global LNG raises $125 million in equity financing
WASHINGTON, D.C. – Venture Global LNG, Inc. announced the successful closing of two rounds of equity investment bringing Venture Global to an aggregate of $125 million in new capital. The equity investors consist of U.S. institutional investors who collectively manage assets over $130 billion. The proceeds from the equity investments will fund the development of LNG export facilities in the United States, including Venture Global’s Calcasieu Pass Project in Cameron Parish, LA. “With these private placements, we are closer to meeting our goals of exporting low-cost, American LNG to global markets,” said William M. Wicker, CEO of Venture Global LNG. “The new capital positions us well for continued expansion of our global management team, completion of our engineering and design work, execution of our FERC and other regulatory activities, further procurement efforts and securing long-term sales agreements.” The Calcasieu Pass Project will support the long-term development of clean and reliable North American energy supplies. Full commencement of Venture Global LNG’s operations is expected to take place in late 2019.