Venture Global LNG Inc. said it raised $55 million during a private placement sale to institutional investors.
The company’s fourth round of equity offerings brought Venture Global’s total capital raised to $265 million. The money will help fund the company’s development of two proposed liquefied natural gas export facilities in Louisiana.
Venture Global plans to build one facility on approximately 1,000 acres at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico, and another in Plaquemines Parish on roughly 630 acres on the Mississippi River, 30 miles south of New Orleans. The proposed Calcasieu facility will have an export capacity of 11 million tons per year, while the planned Plaquemines facility will be capable of exporting 22 million tons per year.