Venture Global Profit Triples on Strong Plaquemines LNG Volumes
Venture Global said quarterly core profit nearly tripled as LNG volumes from its Plaquemines project in Louisiana surged. The company also expanded long-term sales agreements and reaffirmed plans for CP2 LNG development.
(Reuters) — Venture Global said on March 2 its adjusted core profit nearly tripled in the fourth quarter, due to higher LNG sales volumes at the Plaquemines Project in Louisiana, sending its shares up nearly 9% in premarket trading.
In 2025, the U.S. became the first country to export more than 100 million metric tons (MMt) of liquefied natural gas in a single year, powered by the startup of production from new plants.
Commercial activity in the sector has gained further momentum after U.S. President Donald Trump lifted a moratorium on new LNG export permits after taking office last year.
Venture Global's Plaquemines facility, the country's second-largest export plant, delivered 16.4 MMt in 2025 after sending its first cargo in December 2024.
The company on March 2 said it signed an agreement to supply commodity trader Trafigura with about 0.5 million metric tons per annum (MMtpy) of LNG for five years starting in 2026, bringing total new contracted quantities from 2025 to the present to nearly 9.75 MMtpy.
Venture Global's adjusted core profit rose 191% to $2.0 billion in the quarter, with net income rising about 23% to $1.07 billion.
The company said it continues to anticipate the final investment decision for CP2 LNG Phase II in Louisiana by first half of 2026, while construction at Phase I remains on track for first production in late 2027.
It expects to export 145 to 156 cargoes from the Calcasieu Project in Louisiana and 341 to 371 cargoes from the Plaquemines Project in 2026.
However, Venture Global forecast 2026 adjusted core profit below Wall Street expectations, due to impacts from Winter Storm Fern and margin compression in the first quarter.
The Arlington, Virginia-based company now expects current-year adjusted core earnings to be between $5.20 billion and $5.80 billion, compared with the average of analysts' estimates of $6.03 billion, according to data compiled by LSEG.