Venture Global

Sector Update: Energy

Energy stocks were declining premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.1%.The United States Oil Fund (USO) was down 0.2% and the United States Natural Gas Fund (UNG) was 0.8% higher.Front-month US West Texas Intermediate crude oil was 0.4% higher at $82.47 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.2% to $87.92 per barrel, and natural gas futures were up 0.6% at $2.81 per 1 million British Thermal Units.Venture Global (VG) stock was down more than 4% after the company reported Q2 revenue that missed analysts' expectations.

Interior Department Transfers Louisiana Parcel to BLM to Facilitate New Venture Global LNG Hub

The Department of the Interior has transferred a three-acre Louisiana parcel to the Bureau of Land Management to clear the path for a direct land sale supporting Venture Global's (VG) new liquefied natural gas export hub, BLM stated on Monday.Secretary of the Interior Doug Burgum signed Public Land Order 7969 to facilitate the transition, it said.The parcel is currently under consideration for a noncompetitive direct land sale at no less than its appraised fair market value to Cameron Land Ventures, an affiliate of Venture Global LNG, it added.The developer plans to utilize the location to establish infrastructure dedicated to the liquefaction, onsite storage, and export transport of natural gas.

Venture Global Exports Surge in Q2, Advances New Production Sites

Venture Global (VG) exported 127 cargoes of liquefied natural gas in Q2 and sold 466.4 trillion British thermal units of the energy source, a 42% increase or 38 cargoes more than in Q2, 2025, it said in its quarterly results on Tuesday.The LNG producer executed offtake agreements totaling more than 2 million metric tons per annum and expanded an existing 20-year sales and purchase agreement with Atlantic-SEE to 1.0 million tons per annum, up from 0.5 million tons per annum.The company completed a major maintenance program on gas turbines at the Calcasieu Pass facility, it said.Venture Global is aiming for its first LNG from the Plaquemines Expansion Phase 1 project by 2029, subject to receipt of permits which it has now applied for.It aims to produce its first LNG from the CP2 project in H2 this year and has 16 liquefaction modules on site, roofs raised on all four LNG tanks and five gas and steam turbines on their foundations.Venture Global is aiming to take a final investment decision on the CP2 expansion project in early 2027 and to produce from the site by late 2028.

Venture Global Q2 Earnings, Revenue Rise; Shares Fall Pre-Bell

Venture Global (VG) reported Q2 earnings Tuesday of $0.51 per diluted share, up from $0.14 a year earlier.Analysts polled by FactSet expected $0.48.Revenue for the quarter ended June 30 was $4.58 billion, up from $3.1 billion a year earlier.Analysts surveyed by FactSet expected $4.69 billion.The company's shares were down more than 6% in recent Tuesday premarket activity.

Earnings Flash (VG) Venture Global Posts Q2 Revenue $4.58B, vs. FactSet Est of $4.69B

Earnings Flash (VG) Venture Global Posts Q2 EPS $0.51, vs. FactSet Est of $0.48

Strong US Hydrocarbon Demand Lifts Midstream Profits, Supports Volume Growth, RBC Says

Strong global demand for US hydrocarbons is lifting midstream profits and supporting volume growth, RBC Capital Markets said in the midstream weekly on Friday.For the week ended July 30, the Alerian MLP Index fell 0.5% while the S&P 500 gained 0.4%, RBC said.Year to date, the AMZ has risen 21.6%, outperforming utilities by 1,614 basis points and real estate investment trusts by 155 bps, but trailing oilfield services by 1,036 bps and exploration and production companies by 1,689 bps.Front-month West Texas Intermediate crude fell 9% to about $83.50 a barrel, while Henry Hub natural gas declined 5% to $2.76 per million British thermal units.Sunoco (SUN) led weekly gains with a 1.9% advance, helped by potential refinery tailwinds, while Venture Global (VG) dropped 12.7% as weaker Dutch Title Transfer Facility gas prices weighed on sentiment, RBC said.Enterprise Products Partners (EPD) beat Q2 expectations after stronger global demand for US hydrocarbons generated about $200 million in benefits across natural gas liquids, crude oil and petrochemicals.EPD also raised growth capital spending by $700 million to add Permian processing plants and a natural gas liquids fractionator. RBC said the projects support long-term volume growth and bode well for Energy Transfer (ET), Targa Resources (TRGP) and Kinetik Holdings (KNTK).Looking ahead, RBC expects demand-driven volumes, commodity tailwinds and margin strength to remain common themes during the upcoming earnings season.RBC continues to favor Kinetik Holdings, citing new Permian gas takeaway capacity and growing opportunities in New Mexico's Delaware Basin.The firm noted the Bureau of Land Management's May 2026 lease sale generated about $4 billion in bids, surpassing the previous $972 million record set in 2018.RBC said KNTK's sour gas infrastructure provides a competitive advantage because new projects face permitting timelines of more than three years for acid gas injection wells.RBC also reaffirmed its positive view on Cheniere Energy (LNG), noting 95% of its contracted volumes extend through 2035. The firm said LNG can fund two additional brownfield expansion projects after Corpus Christi Midscale Trains 1-9 while maintaining a strong balance sheet.RBC said TRGP remains well positioned as customer-backed expansion projects reduce capital risk. The firm expects rising gas-to-oil ratios to support mid-to-high single-digit natural gas production growth even if crude production levels flatten.Williams (WMB) remains one of RBC's preferred names because of its exposure to growing power-related gas demand. The firm expects WMB to deliver more than 10% adjusted EBITDA compound annual growth through 2030, with sanctioned projects and Haynesville growth already contributing about 9%.RBC said Williams also has an attractive portfolio of Transco expansion and Power Innovation projects, which should benefit from growing power demand.Price: $76.60, Change: $+0.63, Percent Change: +0.83%

Market Chatter: QatarEnergy Buys US LNG Cargoes for Asian Buyers Amid Supply Disruption

QatarEnergy has secured 33 spot cargoes of US liquefied natural gas this year for Asian buyers, following its own force majeure declarations due to infrastructure damage and shipping disruption from the US-Iran war, Reuters reported Thursday, citing sources.The company reportedly bought the cargoes from Venture Global (VG) and other customers of the US LNG exporter. The total volume is equivalent to a third of QatarEnergy's monthly exports pre-war and valued at around $1 billion, according to Reuters calculations.The shipments to South Korea, Taiwan, Bangladesh, India, and Japan aim to show that the company seeks to remain a reliable gas supplier despite recent disruptions, sources told Reuters. Five of the 33 cargoes have yet to reach customers.QatarEnergy did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Baker Hughes Boosts Long-Term Outlook as LNG, Power Orders Fuel Growth, RBC Says

Baker Hughes (BKR) reported a stronger-than-expected Q2 and raised its long-term industrial energy technology order outlook, supported by surging demand for power-generation equipment and liquefied natural gas infrastructure, RBC Capital Markets strategists said in a note on Monday.RBC analysts said the oilfield services and energy technology firm posted adjusted earnings before interest, taxes, depreciation and amortization of $1.23 billion in Q2, up 6% from the previous quarter and above the top end of its guidance range for the second consecutive period.Free cash flow reached $1.05 billion, more than double RBC's estimate of $498 million, reinforcing management's expectation that cash conversion will approach 50% for the year.Baker Hughes shares gained support from strong momentum in its Industrial & Energy Technology division, which has become a key growth driver as global demand rises for LNG capacity, data-center power and energy infrastructure.RBC said that the company secured $7.1 billion in IET orders during the quarter, exceeding expectations.Power Systems accounted for $2.6 billion of the new orders, covering 2.7 gigawatts of generation capacity. The contracts included turbine and generator equipment for oil and gas operations as well as data-center applications in North America.The company also booked $1.8 billion in LNG equipment orders across projects involving Venture Global's (VG) CP2 facility, Golar LNG's (GLNG) FLNG project and Cheniere Energy's (LNG) Sabine Pass LNG facility.Following the strong order intake, Baker Hughes increased its IET Horizon 2 order target for 2026/28 to more than $45 billion, from a previous target of $40 billion.The energy firm also said it plans to expand power systems revenue capacity to $5 billion per year by 2029, compared with about $1 billion generated in 2025.RBC analysts expect the company's multi-year growth and margin expansion to be driven primarily by IET.For Q3, Baker Hughes forecasted EBITDA of about $1.21 billion, while reaffirming its full-year 2026 EBITDA midpoint of $4.85 billion.The company's implied Q4 outlook assumes Middle East activity remains at Q2 levels, a more cautious stance compared with some industry peers.RBC raised its 2026 EBITDA estimate for Baker Hughes to $4.85 billion, while trimming its 2027 forecast by 1% to $5.39 billion due to modestly lower margin expectations.The research firm introduced a 2028 EBITDA forecast of $5.95 billion, representing growth of about 11% year over year.Price: $58.11, Change: $-2.48, Percent Change: -4.09%

Market Chatter: China Re-Exports First US LNG Cargo in Over a Year to Avoid Tariffs, Capture Price

The first US LNG shipment to China in over a year is being re-exported, as local companies look to profit from strong overseas markets while avoiding tariffs, according to a Bloomberg report citing people familiar with the matter.An LNG cargo that departed from Venture Global's (VG) Plaquemines facility in Louisiana was offloaded at the Yangpu port in southern China earlier this month, according to ship tracking data, where it is now being prepared for re-export, as the buyer looks to avoid the 25% tariff on imports into China.This signals that China is in no hurry to resume LNG imports from the US, even as Middle East supplies remain constrained amid the ongoing military conflict between the US and Iran.Meanwhile, the Asian giant has replaced US and Qatari flows with supplies from alternatives such as Canada and Oman over the past year.The LNG Professional Committee of the China Gas Association did not immediately respond to' request for a comment on this story.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Baker Hughes Q2 Orders Climb YOY

Energy technology company Baker Hughes Monday said its total orders stood at $10.50 billion in Q2, a 49% jump from $7.03 billion a year earlier, as orders under the industrial and energy technology segment doubled.In the quarter ended June 30, IET orders surged year over year to $7.09 billion from $3.53 billion, led by the gas technology product line. Segment revenue steadied at $3.29 billion, data showed.Baker Hughes said the IET segment received several awards from companies, including Venture Global (VG), Cheniere Energy (LNG), Bechtel, Golar LNG (GLNG), Nigeria LNG, Dynamis Power Solutions, Kodiak Gas Services (KGS), and Saipem Nasser Saeed Al-Hajri Contracting.Meanwhile, the company's oilfield services and equipment business received lower orders in Q2, totaling $3.41 billion. This represents a 3% decline from the previous year's $3.50 billion.Segment revenue stood at $3.45 billion, 5% lower than a year earlier, according to the report.Baker Hughes said it divested Waygate Technologies to Hexagon and completed the acquisition of Chart Industries (GTLS) in July.It also entered into a commercial agreement with Mantle Reach Power to develop up to 500 megawatts of power over the next five years, advancing large-scale geothermal development in North America.

Venture Global Insider Sold Shares Worth $3,143,097, According to a Recent SEC Filing

Jonathan W Thayer, Chief Financial Officer, on July 20, 2026, sold 222,222 shares in Venture Global (VG) for $3,143,097.SEC Filing:https://www.sec.gov/Archives/edgar/data/2007855/000144876526000011/xslF345X05/primarydocument.xml

Commodity Prices, Export Demand to Drive Strong US Midstream Q2 Earnings, RBC Says

Commodity prices, export demand and new infrastructure should drive strong second-quarter US midstream earnings across the sector, RBC Capital Markets said in a Tuesday note.Waha basis spreads, spot export cargoes, expanding natural gas and power demand continue to provide favorable operating conditions for the sector, RBC said.RBC expects the Iran conflict and additional Permian pipeline capacity to strengthen long-term demand for US hydrocarbons, support new export infrastructure and restore previously curtailed production as takeaway constraints ease.RBC highlighted Kinetik Holdings (KNTK) and Targa Resources (TRGP) as its preferred picks, expecting both companies to post solid second-quarter results.The firm expects Kinetik to enter the second half of 2026 and 2027 with positive momentum, while Targa should benefit from supportive commodity prices and rising gas volumes as new takeaway capacity comes online.Kinder Morgan (KMI) could transfer projects from its shadow backlog into its formal project backlog during the quarter, while Williams (WMB) may provide updates on its Power Innovation financing platform, new power projects and Momentum Midstream, RBC said.RBC's second-quarter EBITDA forecasts remain within 2% of consensus across most of its coverage. It projects Venture Global (VG) about 4.4% above consensus after incorporating recent cargo and fee disclosures.RBC also expects Targa to outperform consensus on stronger-than-expected volume growth. Kinetik's margins should offset curtailed production, while the Kings Landing 2 final investment decision supports higher future output.Waha natural gas prices averaged negative $3.10 per million British thermal units during Q2 and briefly fell to about negative $8/MMBtu before recovering as additional pipeline capacity eased transportation constraints.The 570 million cubic feet per day Gulf Coast Express pipeline expansion entered service late in the quarter, helping restore some curtailed volumes. Energy Transfer (ET) also expects the first 1.5 billion cubic feet per day phase of the Hugh Brinson Pipeline to start in Q4, with some flows possible in Q3.RBC expects 5.27 Bcf/d of new Permian takeaway capacity to enter service between mid-2026 and Q1 of 2027, creating favorable conditions for higher regional production.The Iran conflict has increased spot exports of liquefied petroleum gas, crude oil and liquefied natural gas while reinforcing the need for diversified energy supplies, supporting long-term demand for US hydrocarbons and export infrastructure, RBC said.RBC identified Energy Transfer, Enterprise Products Partners, Targa Resources, ONEOK (OKE), Cheniere Energy (LNG) and Venture Global among the companies positioned to benefit from stronger export demand and future infrastructure investment.The firm also expects natural gas demand to remain a long-term growth driver as US liquefied natural gas export capacity nearly doubles by 2030 and electricity demand rises from reshoring, electrification, artificial intelligence and data center expansion, benefiting Williams and Kinder Morgan.Price: $50.47, Change: $-0.64, Percent Change: -1.25%

Market Chatter: China's 1st Potential US LNG Cargo in More Than Year Docks at Port

A tanker that loaded liquefied natural gas at Venture Global's (VG) Plaquemines facility in Louisiana in June was moored at China's Yangpu port on Thursday, according to Bloomberg's ship-tracking data, and could be China's first US LNG cargo since tariffs were imposed in February 2025.If Al Fat'h unloads its cargo at the port, this would mark the first import since the US and China exchanged tit-for-tat tariffs. It also reflects changes in trade patterns following geopolitical developments in the Middle East, Bloomberg said.However, it is also possible that the shipment will be re-exported since the port has historically reloaded several cargoes over the past year, according to the report.China's National Energy Administration did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

US Natural Gas Nears 2027 Bottom Before Multi-Year Bull Market, TPH Says

US natural gas prices could find a fundamental floor in 2027 before entering a multi-year structural bull market driven by surging LNG exports, power demand and industrial consumption, TPH Energy Research strategists said in a Tuesday note.TPH Energy analysts said near-term fundamentals remain challenging, with the latest supply and demand model still pointing to US gas storage ending 2027 at close to 4.1 trillion cubic feet, a level that would weigh on prices if production remains resilient.However, TPH said falling forward prices are likely to force producers, particularly in the Haynesville shale, to curb drilling activity, reducing supply growth and tightening the market.Matt Portillo, an analyst at TPH, said the bank's base case for 2027 remains $3.50 per million British thermal units, but prices may need to approach $3-$3.25/MMBtu to slow production growth in gas-focused basins.The forward curve is now approaching these levels, which TPH considers a catalyst for activity to drop out of basins like the Haynesville, Portillo said.TPH said it has yet to make a significant cut to its 2027 supply forecast, leaving room for a more constructive outlook should producers respond to weaker prices.TPH currently forecasts production growth next year led by the Permian Basin, followed by the Haynesville, Eagle Ford and Anadarko basins.Meanwhile, TPH revised its LNG outlook, delaying the expected ramp-up of Golden Pass LNG while bringing forward production growth from Rio Grande LNG and Venture Global's (VG) CP2 project.Though renewable power additions are expected to temper growth in gas-fired generation over the next two years, the bank said electricity generation demand is likely to exceed its current long-term forecast of an additional 6 billion cubic feet per day through 2030.From 2028 onward, the balance is projected to shift decisively toward higher prices as new LNG export capacity comes online and domestic demand strengthens.TPH forecasts US storage will fall to around 3.5 Tcf by the end of the 2028 injection season as LNG exports from projects including Port Arthur LNG, CP2, Golden Pass and Rio Grande accelerate, alongside rising industrial demand, exports to Mexico and stronger gas-fired power generation.The brokerage expects Henry Hub prices to average about $4/MMBtu in 2028.TPH expects the full ramp-up of Gulf Coast LNG projects by 2029 and continued growth in industrial and power demand across Texas, Louisiana, and Arizona to tighten regional supply sufficiently to require demand destruction.The bank forecasts Henry Hub prices rising to about $4.50/MMBtu, with October 2029 storage falling to about 2.1 Tcf.Regional pricing dynamics are also projected to strengthen around the Gulf Coast, where hubs such as Gillis could emerge as the strongest basis market in the US because of limited supply relative to growing demand.TPH said the US Northeast is an increasingly attractive long-term market, citing industry discussions indicating regional gas demand could increase by 6-8 Bcf/d over the next five years, largely driven by data center-related power generation.Combined with proposed pipeline expansions that could add another 2-3 Bcf/d of takeaway capacity, the bank said demand growth could outpace supply increases, tightening regional basis differentials and increasing the value of long-term gas supply contracts.Price: $13.16, Change: $-0.20, Percent Change: -1.47%

Venture Global Posts Higher Liquefaction Fees as LNG Prices Surge

US liquefied natural gas producer Venture Global (VG) on Wednesday posted higher implied fixed liquefaction fees of $6.45 per million British thermal units in Q2, up from $3.82/MMBtu in Q1, in line with the surge in global LNG prices.During the period, the company sold 466.4 trillion Btu of LNG, down compared with Q1's 480.8 TBtu.Of the total volume, 137.5 TBtu of LNG came from the Calcasieu Pass facility and 328.9 TBtu from the Plaquemines facility.The implied weighted average fixed liquefaction fee and the volume of LNG sold represent a "few measures" of the company's operating performance, according to the filing.US LNG exporters are expected to generate windfall profits after global energy prices surged following the onset of the US-Iran war in late February.

Venture Global Unit Closes $1.5 Billion Loan Facility

Venture Global (VG) said Friday its subsidiary closed a $1.5 billion senior secured term loan facility that will mature in June 2032.The unit, Venture Global Shipping, plans to use the proceeds to reimburse payments related to the purchase of nine LNG carriers, fund reserve accounts, and pay transaction fees and expenses.

Market Chatter: US, Qatar Warn EU Methane Rules Could Trigger Gas Supply Shortages

The US and Qatar have warned that the European Union could face higher gas prices and supply shortages unless it changes planned methane emissions rules, the Financial Times reported Tuesday, citing a draft letter seen by it.They argue that most global oil and gas exporters would be unable to comply with the proposed requirements, which would introduce monitoring and reporting standards for methane emissions across supply chains.The warning, led by US and Qatari energy officials and sent to EU leaders ahead of an energy ministers' meeting, says there is a "narrow window" to change the rules. Algeria and Nigeria also backed the letter, according to the report.The European Commission, the US Department of Energy and Qatar's Government Communications Office did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $233.74, Change: $+2.89, Percent Change: +1.25%

Venture Global Insider Sold Shares Worth $2,441,042, According to a Recent SEC Filing

Jonathan W Thayer, Chief Financial Officer, on June 17, 2026, sold 222,222 shares in Venture Global (VG) for $2,441,042.SEC Filing:https://www.sec.gov/Archives/edgar/data/2007855/000144876526000009/xslF345X05/primarydocument.xml

Sector Update: Energy Stocks Fall Thursday Afternoon

Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index falling 1.9% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2%.The Philadelphia Oil Service Sector Index shed 3.5%, and the Dow Jones US Utilities Index rose 1.2%.Crude oil prices fell after US President Donald Trump and Iranian President Masoud Pezeshkian digitally signed a memorandum of understanding aiming to reopen the Strait of Hormuz, lift the US blockade of Iranian ports, and pursue a permanent peace deal to end the war.Front-month West Texas Intermediate crude oil dropped 2.3% to $75.04 a barrel, and the global benchmark Brent crude contract fell 2% to $77.95 a barrel. Henry Hub natural gas futures gained 2.5% to $3.22 per 1 million BTU.US natural gas stocks rose 73 billion cubic feet in the week ended June 12, below the 76 billion rise expected in a Bloomberg survey and following an increase of 108 billion cubic feet in the previous week.In corporate news, New Fortress Energy (NFE) shares fell 7.5%. The firm said Thursday the UK restructuring plan between its subsidiaries and some creditors was approved at a hearing in the High Court of Justice of England and Wales.Energy Transfer (ET) said it is expanding its Nederland, Texas NGL export terminal, adding 240,000 bpd of ethane capacity and 55,000 bpd of LPG capacity, with all ethane volumes committed under long-term contracts into the 2040s. Its shares rose 0.7%.Venture Global (VG) signed new binding agreements with German energy company EnBW to supply 820,000 tonnes per annum of US liquefied natural gas over a period of five years starting this year. Venture Global shares shed 1.2%.