Venture Global LNG Raises Additional Financing Bringing Total Capital To Over $210 Million
WASHINGTON, June 1, 2015 /PRNewswire/ -- Venture Global LNG, Inc. announced the successful closing of its third round of equity investment in a private Reg. D transaction. The offering raised additional financial capital of $84.5 million, bringing the total capital raised to over $210 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.
"With this new financial capital, we significantly strengthen our execution and delivery of low-cost, reliable LNG to the world," said William M. Wicker, CEO of Venture Global LNG. "Our investors recognize the competitive advantage of our low-cost model and our leadership in providing the best possible value for our global customers."
The Calcasieu Pass project will support the long-term development of clean and reliable North American energy supplies. This project will be built, operated and manufactured in Louisiana, and will create 1,500 construction jobs, 326 indirect jobs and 130 permanent jobs for the community. Full commencement of the Calcasieu Pass project's operations is expected to take place in 2019.
About Venture Global LNG
Venture Global LNG is currently developing Calcasieu Pass, a liquefaction and export facility in Cameron Parish, Louisiana, south of the city of Lake Charles. Pending regulatory approval, the project will serve LNG markets by exporting ten million metric tonnes per annum of LNG to customers throughout the world. 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. More can found at www.venturegloballng.com.
SOURCE Venture Global LNG, Inc.
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