I Squared Capital has dished out $460 million to move along massive liquefied natural gas (LNG) export projects being developed along the Gulf Coast by Venture Global LNG.

I Squared, through its ISQ Global Infrastructure Fund II, made the investment in Venture Global via convertible equity securities, as part of a $675 million equity capital raise announced last month by the Arlington, VA-based developer. Venture Global has raised about $2.83 billion to support three planned projects, which include the 20 million metric ton/year (mmty) Plaquemines LNG export terminal, for which a final order from federal regulators is expected by Aug. 1.

In June, Polish Oil & Gas Co. (PGNiG), one of Central Europe’s leading utilities, said it had more than doubled the amount of gas it planned to import from the proposed terminal in Plaquemines Parish, LA.

PGNiG has also agreed to take 1 mmty from the planned Calcasieu Pass LNG terminal, which is under construction in Cameron Parish, LA. In addition to PGNiG, the Venture Global terminal is fully contracted with 20-year offtake agreements with Royal Dutch Shell plc, BP plc, Edison SpA, Portugal’s Galp and Repsol SA.

Earlier this year, Venture Global said it planned to double the capacity at its Gulf Coast facilities because of strong customer demand. Plans include increasing the scope of an agreement with Baker Hughes, a GE Company to provide technology for the Calcasieu Pass and Plaquemines facilities.

Venture Global has also detailed plans to regulators for a third Louisiana LNG terminal, the 20 mmty Delta LNG facility, which could start up in 2023.

“Our investment gives us exposure to Venture Global’s entire pipeline of highly innovative projects, which will transform how LNG liquefaction facilities will be built in the future,” said I Squared managing partner Gautam Bhandari.