For those following the development of other mid-scale LNG projects here is a bit of news regarding Venture Global. It would appear there remains strong interest in developer led mid-scale LNG projects. Refreshing everyone's memory; Venture Global is a 10 mtpa (1 mtpa X 10) project. They have started FEED work to support a FERC filing. The main contractor is Tecnicas Reunidas (Spanish EPC contractor) utilizing Chart technology. The firm CH IV is also involved (you may recognize that firm as they provide technical services to Magnolia).
Venture Global LNG brings in USD 125 million
Venture Global LNG informed it has closed two rounds of equity investment bringing Venture Global to an aggregate of $125 million in new capital.
The equity investors consist of U.S. institutional investors who collectively manage assets over $130 billion, Venture Global LNG said in a statement. The proceeds from the equity investments will fund the development of LNG export facilities in the United States, including Venture Global’s Calcasieu Pass project in Cameron Parish, LA.
The Calcasieu Pass project will support the long-term development of clean and reliable North American energy supplies. Full commencement of Venture Global LNG’s operations is expected to take place in late 2019.
LNG Price at posting:
$3.20 Sentiment: None Disclosure: Held
