Venture Global has exported its 1,000th LNG cargo just four years after shipping its first cargo in 2022 as the company increases contracted volumes and expands production across its Calcasieu Pass, Plaquemines and CP2 projects.
The company has now contracted 91% of its available 2026 cargos at a weighted-average liquefaction fee of $5.05 per MMBtu. Venture Global also tightened its expected full-year export range to 500 to 518 cargos from a previous range of 494 to 523.
During Q2, Venture Global exported 127 cargos compared with 89 a year earlier, an increase of 43%. LNG volumes sold increased 42% to 466.4 TBtu. For the first six months of the year, cargos exported increased 69% to 257.
Q2 revenue increased 48% to $4.58 billion. Operating income more than doubled to $2.19 billion, net income surged 266% to $1.35 billion and Consolidated Adjusted EBITDA increased 79% to $2.49 billion.
The company raised its full-year Consolidated Adjusted EBITDA guidance to $8.7 billion to $9.1 billion from $8.2 billion to $8.5 billion. The outlook assumes a $12.50 to $13.50 per MMBtu weighted-average liquefaction fee on the remaining unsold 2026 cargos.
Venture Global executed more than 2 MTPA of new or expanded LNG offtake agreements. These include increasing its 20-year Atlantic-SEE agreement to 1 MTPA, signing a five-year 0.82 MTPA agreement with EnBW, signing a five-year 0.85 MTPA agreement with TotalEnergies and increasing its Vitol agreement to 1.7 MTPA.
Calcasieu Pass produced 37 cargos during Q2 despite major scheduled maintenance on its gas turbines and surpassed its SPA obligations. Venture Global attributed that performance to its modular architecture, which provides redundancy of critical components.
Plaquemines Phase 1 remains targeted for commercial operations in Q4 2026, while Phase 2 is targeted for mid-2027. CP2 remains on schedule for first LNG in the second half of 2027, with 16 liquefaction modules already on site and roofs raised on all four LNG tanks.
Venture Global also completed several refinancing transactions during and after Q2 that management expects to generate more than $100 million of annual cost savings.
KEY QUOTES:
“Venture Global has proven our ability to successfully build and operate complex machines that generate exceptional results. The second quarter of 2026 is a perfect demonstration of that execution in operations, construction, and financing, with significant year-over-year financial gains, production this quarter at the high end of our forecasted range, construction at CP2 on schedule driven by our in-house EPC efforts, and refinancings that translate into more than $100 million of annual cost savings.”
Mike Sabel, Chief Executive Officer Of Venture Global
