Height Securities Completes Fourth Round of Financing For Venture Global LNG
WASHINGTON, May 11, 2016 /PRNewswire/ — Height Securities is pleased to announce the successful closing of a fourth round of equity financing for U.S.-based liquefied natural gas (LNG) producer Venture Global LNG, bringing the total capital raised to over $265 million. The proceeds will fund Venture Global’s development activities for its proposed export facilities in Louisiana.
“Closing another round of financing with Venture Global LNG marks a clear indication of investors’ demand for strategic midstream projects,” said Patrick Hughes, Managing Director of Height’s Investment Banking and Advisory group. “We remain bullish towards worldwide LNG demand growth, driven by the rapid expansion of certain strategic markets with numerous creditworthy counterparties and contract roll-off from traditional suppliers. We believe Venture Global is among the lowest cost, most formidable suppliers offering competitive contract pricing well below many of its non-U.S. peers. The company’s success in attracting both financing and commercial interest underscores persistent and growing demand for LNG from differentiated, low-cost, and stable supply sources like the United States.”
“We continue to be excited about project-based finance opportunities in energy and infrastructure,” said John Akridge, Height’s Co-Founder and Managing Partner. “Our firm’s success remains grounded in our industry-leading view of global energy markets – from the work being done by our Investment Research team, to this latest accomplishment of our Investment Banking and Advisory group.”
Venture Global LNG is developing both the 10 MTPA Venture Global Calcasieu Pass facility on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico, and the 20 MTPA Venture Global Plaquemines LNG facility in Plaquemines Parish, Louisiana on an approximately 630-acre site at river marker 55 on the Mississippi River, located 30 miles south of New Orleans, Louisiana.
About Height Securities
Height Securities is a Washington -based investment firm founded in 2009. Our core team has provided industry-leading research since the early 2000s to institutional investors with positions in companies and sectors with significant regulatory exposure. The Height team has a well-established reputation for assisting clients in effectively navigating regulatory, macroeconomic, and geopolitical risks that impact investments and corporate operating environments. In 2014, we launched our Investment Banking and Advisory (IBA) group. From our headquarters in Washington, DC, we have a unique perspective on financing opportunities for regulated industries, and have become a leading financier and advisor in the space. Height Securities, LLC is a broker-dealer registered with the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC), and is a member of the Securities Investor Protection Corporation (SIPC). For more information and additional disclosures, please visit the Height Securities website, at www.heightllc.com.
About Venture Global
Venture Global LNG plans to be a long-term, low-cost producer of LNG, capitalizing on low-cost natural gas production in the U.S. Venture Global LNG utilizes a highly efficient, mid-scale LNG liquefaction technology. For more information, please visit the Venture Global website, at venturegloballng.com.