The offering raised additional financial capital of US$84.5 million. The equity was purchased by institutional investors who collectively manage assets exceeding $1 trillion. The proceeds will fund Venture Global’s LNG export development in Louisiana.
William M. Wicker, CEO of Venture Global LNG, stated:
“With this new financial capital, we significantly strengthen our execution and delivery of lowcost, reliable LNG to the world. Our investors recognize the competitive advantage of our low-cost model and our leadership in providing the best possible value for our global customers.”
Venture Global LNG is currently developing Calcasieu Pass, a liquefaction and export facility in Cameron Parish, Louisiana, south of the city of Lake Charles.The Calcasieu Pass project will support the long-term development of clean and reliable North American energy supplies. Full commencement of the Calcasieu Pass project’s operations is expected to take place in 2019.
Venture Global LNG plans to be a long-term, low-cost producer of LNG, capitalizing on low-cost natural gas production in the U.S. Venture Global LNG’s strategy uniquely utilizes a highly efficient, mid-scale LNG liquefaction technology. Venture Global LNG intends to develop, own and operate additional LNG liquefaction and export facilities in the future.