WASHINGTON, Aug. 22, 2016 /PRNewswire-USNewswire/ -- Venture Global LNG, Inc. announced the successful closing of its fifth round of equity investment, again through a private Reg. D transaction. The offering raised additional capital of $15 million, bringing the total capital raised to date to over $280 million. The proceeds will fund Venture Global's LNG development activities for its proposed export facilities in Louisiana.
In a joint statement, Co-CEOs Mike Sabel and Bob Pender stated, "We are pleased to continue to successfully develop and optimize our projects, hit our milestones and, as a result, raise additional equity. In this offering, we are pleased to be joined by a strategic investor who truly understands our business and is aligned with our vision for the future of the LNG industry."
Venture Global continues its development plans for the 10 MTPA Venture Global Calcasieu Pass facility on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico, and the 20 MTPA Venture Global Plaquemines LNG facility in Plaquemines Parish, Louisiana on an approximately 630-acre site at river mile marker 55 on the Mississippi River, located 30 miles south of New Orleans, Louisiana. With these two projects, Venture Global is setting the new standard in LNG by developing baseload plants built with highly efficient, mid-scale liquefaction blocks.
About Venture Global LNG. 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. More can be found at www.venturegloballng.com.
SOURCE Venture Global LNG, Inc.