Venture Global reported a 42% increase in Q2 LNG sales volumes as Plaquemines moves toward commercial operations and construction advances at CP2.
(P&GJ) — Venture Global exported 127 LNG cargoes during the second quarter of 2026 as higher volumes from its Plaquemines project helped drive a 42% year-over-year increase in LNG sales.
The U.S. LNG developer sold 466.4 TBtu during the quarter, up 137.2 TBtu from a year earlier. Venture Global also exported its 1,000th cargo across its operating projects, four years after shipping its first cargo in 2022.
At Plaquemines LNG in Louisiana, Venture Global said it is completing construction, commissioning and assurance testing ahead of commercial operations for Phase 1. The company continues to target commercial operations in the fourth quarter of 2026, followed by Phase 2 in mid-2027.
Venture Global is also advancing an expansion of Plaquemines, targeting a final investment decision in the first half of 2027 and first LNG in 2029, subject to regulatory approvals.
Construction at the CP2 LNG project is progressing on schedule toward first LNG in the second half of 2027. Venture Global said 16 liquefaction modules are now on site, roofs have been raised on all four LNG tanks and five gas and steam turbines have been placed on foundations.
The company is separately pursuing a brownfield expansion of CP2, targeting FID in early 2027 and first production in late 2028, subject to regulatory approval.
Calcasieu Pass produced 37 cargoes during the quarter despite scheduled gas turbine maintenance, exceeding the facility’s long-term sales and purchase agreement obligations, according to the company.
“Moving into the second half of the year, with safety remaining our top priority, we are focused on moving Plaquemines Phase I into commercial operations, continuing construction momentum at CP2, and progressing commercial and financial activities in support of FID at the brownfield expansions at both CP2 and Plaquemines,” Venture Global CEO Mike Sabel said.
Venture Global expects to export 500 to 518 cargoes in 2026, including 149 to 154 from Calcasieu Pass and 351 to 364 from Plaquemines.
The company reported second-quarter revenue of $4.6 billion, up 48% year over year, and raised its full-year adjusted EBITDA guidance to $8.7 billion-$9.1 billion from $8.2 billion-$8.5 billion.
