Venture Global LNG, Inc., an Arlington, Va.-based provider of American-produced liquefied natural gas, raised $675m in additional capital from institutional investors.
The capital will be used 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 $855m 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.
Led by Co-CEOs Mike Sabel and Bob Pender, Venture Global LNG is a provider of liquefied natural gas to be supplied from resource rich North American natural gas basins. The company 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.
The 20 MTPA Plaquemines facility will employ a comprehensive process solution from Baker Hughes, a GE company (BHGE) that utilizes mid-scale, modular, factory-fabricated liquefaction trains in an identical configuration to its Calcasieu Pass LNG project, currently under construction in Cameron Parish, Louisiana.