Venture Global raises $675M in capital to develop Plaquemines LNG

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Venture Global LNG has raised $675 million of additional capital from institutional investors.

The capital will be used primarily for the further development of the company’s 20 million tons per year Plaquemines LNG export project in Plaquemines Parish.

In addition to the $855 million 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.

In a joint statement issued last week, co-CEOs Mike Sabel and Bob Pender said with the expansion of the  Plaquemines LNG sales and purchase agreement with PGNiG to 2.5 million tons per year and in anticipation of additional near-term commercialization, “we are excited to add significant new resources as we prepare to commence early works at Plaquemines later this year.”

The Plaquemines facility will employ a comprehensive process solution from Baker Hughes that utilizes highly efficient mid-scale, modular, factory-fabricated liquefaction trains in an identical configuration to Venture’s Calcasieu Pass LNG project, currently under construction in Cameron Parish.

The Final Order for Plaquemines LNG from the U.S. Federal Energy Regulatory Commission, or FERC, is on track for August 1.