U.S. LNG exporter Venture Global (NYSE: VG) booked a net income for the third quarter, compared to a loss a year earlier, as revenues and LNG exports soared amid rising liquefaction capacity at its plants.
Venture Global, the second-largest U.S. LNG exporter behind Cheniere, on Monday reported a net income attributable to common stockholders of $429 million for the third quarter, versus a loss of $347 million for the same period of 2024.
Revenues soared by 260% and income from operations surged by 598% as Venture Global’s exported LNG volumes jumped by 237% to 100 cargoes in the third quarter of 2025, up from 31 cargoes exported in the same period last year.
Venture Global has been ramping up its Plaquemines export project, and
34 of 36 liquefaction trains at the site are now producing LNG, the company said.
“We are pleased with the construction and commissioning process at Plaquemines, which is progressing well and safely despite power island construction delays and normal-course challenges inherent in projects of this scale and complexity,” Venture Global CEO Mike Sabel said in a statement.
In July, Venture Global took FID and successfully closed the $15.1 billion project financing for the first phase of the company’s third project, CP2 LNG, together with the associated CP Express Pipeline.
CP2 is a “critical project that will supply American allies with low-cost LNG for decades, support thousands of jobs and greatly benefit the U.S. balance of trade,” Sabel said last month, commenting on the U.S. Department of Energy’s final non-FTA export authorization for the project in Cameron Parish, Louisiana.
For this year, Venture Global expects the Plaquemines ramp-up to help it deliver a total of 382 to 386 cargoes.
However, the company reduced and tightened the range of its Consolidated Adjusted EBITDA guidance to $6.35 billion – $6.50 billion from $6.40 billion – $6.80 billion, due to lower expected fixed liquefaction fees reflecting higher domestic natural gas prices, and accounting reserves relating to ongoing arbitrations.
Earlier this month, BP won an arbitration case it brought against Venture Global, alleging that the LNG exporter had violated its long-term supply contract with the supermajor in order to make bigger profits on the spot market.
By Michael Kern for Oilprice.com
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