Venture Global targets 5 GW for AI data centers by 2031
Key Facts
Venture Global said on November 10, 2026, that it is evaluating the development of an off-grid power facility for data centers, a new activity complementary to its liquefied natural gas business. The company aims to make the first 250 megawatts of computing capacity available in late 2028, then reach about 5 GW by the end of 2031. In comments on its third-quarter earnings call, it said it had the potential to access 10 GW by 2034 across two sites in Louisiana. The concept combines gas supplies, independent power, land, closed-loop water systems, and in-house engineering and construction. The company said the potential project would be "separate from and complementary to its existing LNG operations" and would not change current gas sales agreements or commercial commitments.
The company said it signed framework agreements in October with GE Vernova and Baker Hughes for energy services to provide up to 16 generating units, each with a capacity of 720 megawatts, along with associated transformer and grid equipment. The agreements are part of a plan to prepare the sites to supply power to data centers, while the company said project execution would remain flexible in timing and scope. The plan is based on about 15,000 acres of land under Venture Global's control. The company also says it has access to about 13 billion cubic feet per day of pipeline capacity and about 4 GW of existing power. Its execution capabilities include an in-house engineering, procurement and construction team of 1,000 people, according to its disclosure.
The announcement coincided with quarterly results showing revenue of $4.756 billion in the third quarter of 2026, compared with $3.329 billion in the same period a year earlier, an increase of 43%. Operating income was $2.295 billion, up 74% year over year from $1.320 billion. Net income was $2.546 billion, compared with $429 million, an increase of 493%. Consolidated adjusted EBITDA was $2.583 billion, up 69% from $1.525 billion a year earlier. The results provide financial context for the potential new activity, which the company continues to describe as separate from its existing LNG business.
Venture Global raised its 2026 fiscal-year consolidated adjusted EBITDA guidance range to $10.0–$10.3 billion, from $8.7–$9.1 billion in guidance issued in August. In the second quarter, the company reported revenue of $4.578 billion and consolidated adjusted EBITDA of $2.491 billion, while keeping its previous annual guidance range. It said the updated estimate assumes weighted average liquefaction fees of between $21 and $22 per million British thermal units for remaining unsold cargoes. The comparison shows the higher guidance came alongside year-over-year growth in third-quarter revenue and earnings. The company scheduled its earnings discussion and 2026 fiscal-year guidance call for 9 a.m. Eastern time on November 10.
Venture Global said its sites in Cameron and Plaquemines parishes in Louisiana are about 250 miles apart and allow it to deliver large-scale computing capacity without relying on public electricity or water supplies. This is part of a model linking gas resources and power infrastructure to data center needs at both sites. The first phase of the Plaquemines project began commercial operations on October 31, 2026, just over 53 months after the final investment decision. That development provides context for the company's ability to execute large infrastructure projects, alongside its proposed power and computing plan. The company's shares closed at $11.8 in the November 9 session, according to EL7 data.