Venture Global Posts LNG Export Surge

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Written by Daniel Graeber for IIR News Intelligence (Sugar Land, Texas)

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Summary

Venture Global said it delivered 1,000 cargoes of LNG since it began exporting four years ago. Deliveries were up as well, showcasing the United States is pulling away from the rest of the global pack.

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More Feedstock Needed to Keep Up

With data showing that some 6 billion cubic feet of additional feed gas may be necessary to keep pace with expansions in the U.S. LNG sector, operator Venture Global said its deliveries were up more than 40% year-on-year.

Industrial Info Resources data show Venture Global owns nine U.S. plants associated with natural gas and liquefied natural gas (LNG). Four of the operational export terminals along the U.S. Gulf Coast are busy with expansion efforts. The largest would be from trains 19-36 at the Plaquemines terminal, operated by Venture Global. Expansions would add another 1.96 billion cubic feet per day (Bcf/d) to its feed gas capacity.

Expansions along the Gulf Coast will require another 5.27 Bcf/d in feed gas. Several other facilities are in the planning stage, showing commitments for feed gas will keep expanding at least through the end of the decade.

In its second quarter earnings report, released Tuesday, Venture Global said it exported 127 cargoes laden with LNG during the three-month period ending June 30, a 42% expansion from the same period last year.

The company added that it was on schedule to produce the first batch of LNG from the second phase of its Calcasieu Pass terminal by next year.

"While only a year from (a final investment decision), we have made extraordinary progress, with 16 liquefaction modules already on site, roofs raised on all four LNG tanks, and five of the gas and steam turbines on foundations, highlighting our speed to execution and operational excellence," the company stated.

During the second quarter, the company added, it delivered its 1,000th cargo, four years after its first deliveries. Venture Global, however, missed analyst expectations on profits and revenues because of lower LNG prices and higher costs.

Headwinds for U.S. Feed Gas

Industrial Info's IIR Energy, in its NATGAS Today report for Tuesday, found that feed gas was around 16.74 billion cubic feet (Bcf) as of Tuesday, below record-setting levels above 19 Bcf from late 2025. Feed gas was limited for the Sabine Pass terminal, operated by Cheniere Energy, because of reduced pipeline flows.

Sabine Pass is the largest U.S. export terminal by volume, designed to take on as much as 4.56 Bcf/d in feed gas.

Globally, the LNG sector is on its back foot because of problems stemming from ongoing conflict in the Middle East. Qatar, a major LNG exporter in its own right, may see volumes sidelined for five years because of damage to its infrastructure.

With the world leaning on the global leader in LNG, the Washington, D.C.-based Institute for Energy Research reported Monday that Qatar secured 33 cargos of LNG to keep deliveries moving. Golden Pass, a newly-minted facility on the Gulf Coast, is a joint venture between ExxonMobil and QatarEnergy that entered the commissioning phase earlier this year.

LNG commitments may be overtaking the expected gains in U.S. natural gas production, even though current feed gas levels are below last year's highs. The federal government expects to see LNG commitments account for an average of 17.4 Bcf/d this year, increasing to 18.6 Bcf/d this year.

That's more than an 8% increase, provided the forecast holds. But while shale basins tend to yield more natural gas as they mature, total gas production is on pace for a 3.7% year-on-year expansion.

By the Numbers

• 42% y-o-y increase in Venture Global deliveries of LNG
• 1,000 cargos since exports began four years ago

Key Takeaways

• LNG export gains higher than gas production
• Venture Global missed analyst expectations because of lower prices

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