Venture Global Begins Long-Term Gas Supply Under Plaquemines Contracts in Louisiana
Key Facts
Venture Global has begun supplying liquefied natural gas to customers of the first phase of its Plaquemines project under long-term contracts, according to the headline of a Reuters article published on November 1, 2026. The start of supply puts the project into the phase of fulfilling customer agreements, after the company had targeted commercial operations in the fourth quarter of 2026. In August, the company said the first phase was in the final stages of construction, commissioning and performance testing. The Reuters headline did not provide details on customers, supply volumes or the timing of deliveries. The move is part of an LNG export project that the company says is expected to have capacity exceeding 28 million tonnes a year.
The project is located in Plaquemines Parish, Louisiana, about 20 miles south of New Orleans. LNG sales from the project began during commissioning in January 2025, according to the company’s annual report filed with the U.S. Securities and Exchange Commission. The company said commissioning sales are expected to continue until the commercial operation date of each phase. August guidance targeted commercial operations for the first phase in the fourth quarter of 2026 and for the second phase in mid-2027. The start of supply under long-term contracts means the project is now supplying first-phase customers under its agreements, while the targeted commercial operation date remains as the company announced in August.
In its second-quarter 2026 results, Venture Global reported revenue of $4.578 billion, up 48% from $3.101 billion in the same period of 2025. Net income was $1.347 billion, compared with $368 million a year earlier, an annual increase of 266%, according to the results table. The company attributed growth in net income and adjusted earnings primarily to higher LNG sales volumes, particularly from Plaquemines as commissioning progressed. It also cited higher sales prices after feed gas costs, resulting from liquefaction fees under commissioning sales agreements. These figures provide financial context for the expansion of supply, but relate to the second quarter and do not measure the impact of the long-term supply start announced by Reuters in November.
In May, the company raised its 2026 consolidated adjusted EBITDA forecast to a range of $8.2 billion to $8.5 billion, from a previous range of $5.2 billion to $5.8 billion. It also forecast exports of between 351 and 364 cargoes from the Plaquemines project during 2026. The second-quarter report linked the continued target for commercial operations of the first phase to completion of commissioning, performance testing and any required remediation work. The cargo forecast provides a measure of the activity the company expected from the project during the year, while completion of testing sets the path to commercial operations. The available Reuters article did not include details on the impact of the supply start on earnings or cargo forecasts.
Venture Global shares closed at $14.79 on October 30, after closing at $13.76 on October 26. The close rose to $13.81 on October 27, then to $14.35 on October 28 and $14.77 on October 29, according to EL7 data. These daily closing moves preceded the Reuters headline published on November 1 and do not establish a link between the share-price movement and the supply-start news. The company is due to report third-quarter results before the market opens on November 10, 2026. It will hold an investor and analyst call the same day at 9:00 a.m. Eastern Time, according to its October 14 announcement. The upcoming results will give investors access to more recent quarterly data following the announcement of the start of long-term supply.