Business: |
We are the holding company of a U.S.-based producer of liquefied natural gas – better known as LNG. (Incorporated in Delaware)
We are building and developing five natural gas liquefaction and export projects in Louisiana near the Gulf of Mexico.
Details from the prospectus:
Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost. We believe supplying this clean, affordable fuel promotes global energy security and is essential to meeting growing global demand.
Natural gas is one of the most important resources worldwide and is required to generate reliable electricity that underpins economic development and drives industry. Once natural gas is supercooled to -260°F, it converts to liquid form and reduces to 1/600th of its original volume, enabling large quantities of natural gas to be loaded and shipped by LNG tankers. The resulting LNG can be transported to international markets that lack domestic supply, displacing more carbon intensive sources of energy such as coal, diesel, and heavy fuel oil, and serving as an integral part of a cleaner energy future. We believe our business model has demonstrated that in a competitive commodity market, lower cost and overall faster delivery wins market share. Our approach capitalizes on both of these advantages, supporting significant additional growth opportunities.
Our Projects
We are commissioning, constructing, and developing five natural gas liquefaction and export projects near the Gulf of Mexico in Louisiana, utilizing our unique “design one, build many” approach. Each project is designed or is being developed to include an LNG facility and associated pipeline systems that interconnect with several interstate and intrastate pipelines to enable the delivery of natural gas into the LNG facility. As illustrated by the chart below, our five current projects are being designed to deliver a total expected peak production capacity of 143.8 mtpa, which consists of an aggregate of 104.4 mtpa expected nameplate capacity and an aggregate of 39.4 mtpa of expected excess capacity. These amounts do not account for any potential bolt-on expansion liquefaction capacity. The expected nameplate capacity of our facilities measures the minimum operating performance thresholds guaranteed by the equipment providers, and the expected excess capacity represents the additional LNG that we aim to produce above such guaranteed amounts. Although COD has not yet occurred under the post-COD SPAs for any of our projects, we have been generating proceeds from the sale of commissioning cargos at the Calcasieu Project since the first quarter of 2022, and expect to do so at each of our other projects during commissioning prior to achieving COD for the relevant project or phase of a project.
Note: Net loss and revenue are for the 12 months that ended Sept. 30, 2024.
(Note: Venture Global Inc. disclosed its IPO’s terms in an S-1/A filing on Jan. 13, 2025: The company is offering 50.0 million shares at a price range of $40.00 to $46.00 to raise $2.15 billion ($2,150.0 million), assuming pricing at the $43.00 mid-point of its range, according to the prospectus. The market cap would be $103.18 billion, if the IPO is priced at the $43.00 mid-point of its range.)
(Note: Venture Global Inc. filed its S-1 for its IPO on Dec. 20, 2024, without disclosing the terms. Estimated IPO proceeds are the boilerplate $100 million, but some Wall Street pros believe that this IPO could raise as much as between $2 billion and $3 billion. Background: Venture Global Inc. submitted confidential IPO documents to the SEC on Aug. 8, 2024.)
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