Venture Global, the US liquefied natural gas developer pursuing three projects in the state of Louisiana, has now raised a total of $2.8 billion in financing and much more will be needed as it presses ahead with plans to produce 56 million tonnes per annum of LNG for export.
Venture Global said it had just raised $675 million of additional capital from “world-class institutional investors” to be used primarily for the further development of its proposed Plaquemines export project in Louisiana with 20 MTPA of output.
Analysts say that the cost of bringing one large-scale LNG liquefaction and export plant on stream with associated facilities and around 27 MTPA of production is estimated at over $25 billion.
“In addition to $855M of capital previously raised by Venture Global and the $1.3Bln project-level equity commitment from Stonepeak Infrastructure Partners, Venture Global has now raised total committed capital of more than $2.8Bln to support the development of its facilities,” said the company.
The Arlington, Virginia-based company’s Plaquemines venture is sited near river mile-marker 55 on the west side of the Mississippi River, 30 miles south of New Orleans.
The project will include multiple small-scale liquefaction Trains, four LNG storage tanks and three marine loading berths.
The company’s most advanced plant in terms of development is at Calcasieu Pass in Louisiana with current nameplate export volumes of 12 MTPA.
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