Washington, D.C.-based Venture Global LNG Inc., which plans to build a natural gas export facility in Cameron Parish, announced Wednesday that it has raised $125 million from investors who manage more than $130 billion in assets.
The money will fund the development of liquefied natural gas export facilities in the United States, including Venture Global’s Calcasieu Pass Project.
The private placements will help Venture Global expand its management team, complete engineering and design work, complete the permit work needed for the facility and secure long-term sales agreements, according to Chief Executive Officer William M. Wicker.
Typically, LNG exporters use the contracts to secure financing for the export facilities, which can cost billions of dollars.
Wicker said the company expects “full commencement” of the company’s LNG operations to take place in late 2019.