Venture Global LNG

🚨NEWS: Venture Global LNG, Inc. (“Venture Global”) announced today that it has closed its inaugural offering of 3,000,000 shares of 9.00% Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, with a $1,000 liquidation preference per share (the “Series A Preferred Shares”). Venture Global received aggregate gross proceeds of $3 billion.    The Series A Preferred Shares have no maturity date and may only be redeemed by Venture Global after September 30, 2029 or in certain limited circumstances prior thereto. The Series A Preferred Shares are not convertible into nor exchangeable for any other securities of Venture Global and rank senior to Venture Global’s existing common stock, and junior to Venture Global’s indebtedness.  Venture Global intends to use the net proceeds from the offering for general corporate purposes.

The first two brand new ships of Venture Global’s fleet have been loaded with LNG for the first time and are heading to Germany. To date, Venture Global has sent almost 50 cargoes to Germany and looks forward to many more through our long-term partnerships with EnBW Energie Baden-Württemberg AG and SEFE Securing Energy for Europe GmbH for supply from the future CP2 LNG 🇩🇪🇺🇸

🚨NEWS: Today, Venture Global announced the execution of a binding long-term terminal use agreement (TUA) with GASTRADE S.A. enabling the regasification and sale of liquefied natural gas (LNG) from Venture Global’s terminals in Louisiana to markets in Central and Eastern Europe. Under the agreement, Venture Global has secured approximately 1 million tonnes per annum (MTPA) of LNG regasification capacity at the new Alexandroupolis LNG receiving terminal in Greece for five years, beginning in 2025. Venture Global’s capacity will account for approximately 25% of the total terminal capacity, or approximately 12 cargoes annually. The new Alexandroupolis LNG FSRU receiving terminal and South-North ‘Vertical Corridor’ will be essential to enhancing Central and Eastern European energy security by providing a new route to bring alternative supplies of natural gas into the region. Critical energy infrastructure projects in Greece have been supported in part by European co-funding as well as the United States Government through the Development Finance Corporation (DFC).    “Venture Global is thrilled to expand our European regasification capacity at Greece’s new Alexandroupolis LNG terminal,” said Venture Global CEO Mike Sabel. “This move further integrates our business by growing our assets across the LNG supply chain including LNG production, shipping and regasification. As a major point of entry for LNG into Central and Eastern Europe, this strategically important infrastructure will be a game changer for the region’s ability to diversify their energy and access a secure and reliable energy supply. Venture Global is proud to support these efforts as a strategic partner with volumes from both Plaquemines LNG and the future CP2 LNG.” 

🚨NEW: Venture Global has announced a $6 Million donation to directly support an increase in the annual compensation of the 270 public school teachers and staff in Cameron Parish by approximately 15%. Read more⬇️ https://lnkd.in/ea7JEEAG

🚨NEW: Venture Global response to Shell-Funded Propaganda “Study” reported in the Financial Times

📍Plaquemines LNG

🚨NEWS: Venture Global Announces Closing of $1,500,000,000 Senior Secured Notes.

🚨NEWS: FEDERAL ENERGY REGULATORY COMMISSION APPROVES VENTURE GLOBAL’S CP2 LNG 🇺🇸   Arlington, VA-Today, Venture Global issued the following statement on the Federal Energy Regulatory Commission’s (FERC) approval of CP2 LNG, the company’s third export facility.    “Venture Global applauds the Commission and FERC staff for their independent and thorough review and approval of CP2 LNG,” said Mike Sabel, CEO of Venture Global LNG. “This project will be critical to global energy security and supporting the energy transition, as well as provide jobs and economic growth across Louisiana and the United States. We appreciate Commissioner Clements’ service on the Commission and look forward to continuing to work with Chairman Phillips, Commissioner Christie, and the newly confirmed commissioners as well the outstanding FERC staff. I’d like to thank the Venture Global team who has worked with professionalism and great resolve to answer all requests from our regulators. We look forward to a swift non-FTA approval from the U.S. Department of Energy for this project that is critical to both global and national security.”    To date, the initial phase of CP2 has been sold through 20-year sales and purchase agreements with ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas, SEFE and EnBW. In addition, CP2 LNG has also recently signed an HOA with DTEK of Ukraine. Venture Global is in active discussions for the remaining capacity and has launched significant off-site construction of the project. 

🚨NEWS: Today, Venture Global announced the successful launch of its first LNG vessel, the Venture Gator at a ceremony which took place at the Samsung Heavy Industries shipyard in Geoji-si, South Korea. The Venture Gator is the first of nine LNG carriers in the Venture Global fleet to be completed in quick succession across three shipyards in South Korea over the coming 24 months, which will transport LNG from the U.S. to multiple global partners and destinations. The ship deploys best-in-class environmental and efficiency technology and will be primarily fueled by Venture Global’s liquefied natural gas. The Venture Gator and progressively the fleet’s other eight ships will commence serving our global partners in Europe and Asia beginning this fall.

🚨NEWS: Today, Venture Global and D. TRADING (commercial arm of DTEK Group) announced the execution of a comprehensive Heads of Agreement (HOA) for the supply of U.S. liquefied natural gas (LNG) to Ukraine and Eastern Europe. 🇺🇸🤝🇺🇦 ✅The HOA provides that DTEK’s subsidiary, D. TRADING, will purchase cargoes from Venture Global’s Plaquemines LNG facility beginning later this year through the end of 2026 to support near to medium term energy security needs for Ukraine and the broader Eastern European region. ✅ In addition, the HOA provides that D. TRADING will purchase up to 2 million tonnes per annum (MTPA) of LNG from Venture Global’s third facility, CP2 LNG, for 20 years. ✅The HOA also calls for cooperation on opportunities to access regasification terminal capacity and gas pipeline capacity that provide an integrated and flexible transport path to support the energy security of the region.    “Venture Global is proud to partner with D. TRADING to support Ukrainian and Eastern European energy security by supplying short-term and long-term U.S. LNG from our Plaquemines and CP2 facilities. President Biden has committed to increasing LNG supply into Europe and Venture Global is pleased to be in a position to continue to support these efforts. With this landmark agreement, we will help bolster Ukraine’s security of natural gas supply, aid continued recovery and economic growth in the region, and further strengthen European energy security,” said Mike Sabel, CEO of Venture Global.