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Venture Global Posts Record LNG Exports in Q1

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US liquefied natural gas exporter Venture Global (VG) said Tuesday it has exported a record 130 cargoes in Q1, with 481 trillion British thermal units of liquefied natural gas sold during the period, as the commissioning of the Plaquemines project progressed.

Of the total cargoes exported in Q1, 92 came from Plaquemines. The remaining 38 came from Calcasieu Pass facility.

Q1 volumes were almost twice the year-ago sales of 67 cargoes and 253 TBtu of LNG, company data showed.

Venture Global said around 84% of available cargoes for the year were considered sold.

It expects to export 147 to 154 cargoes from the Calcasieu plant in 2026, as the facility operates at around 11.2 million tons per annum. Venture Global said it targets to increase capacity to 12.4 mtpa over the next two to three years.

From the Plaquemines project, it estimates that around 347 to 369 cargoes will be exported, as the first phase of the facility reaches commercial operations in Q4. The plant's second phase is expected to reach the milestone in mid-2027.

Venture Global said that it has concluded a deal with TotalEnergies (TTE) to supply 850,000 tons per annum of LNG for around five years, beginning in Q2.

It has also agreed with Vitol to increase their existing five-year LNG supply deal to 1.7 mtpa from the previous 1.5 mtpa.

The company has also finalized a 20-year sales and purchase agreement with Hanwha Aerospace and a five-year binding agreement with Trafigura.

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