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Venture Global ( VG ) producing LNG from Plaquemines Phase 2

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Company could have two years of LNG sales at spot market

price

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Record natural gas utilization for Plaquemines hit on

Sunday

By Curtis Williams

HOUSTON, July 14 (Reuters) - Venture Global ( VG ) has

started producing liquefied natural gas from Phase 2 of its

Plaquemines export facility in Louisiana, according to two

people familiar with its operations as well as LSEG ship

tracking data and federal filings.

In the last six months, the United States' second-largest

LNG producer has exported LNG from Phase 1 of its Louisiana

facility, and has now begun producing the superchilled gas from

Phase 2, allowing it to sell the LNG at higher spot market

prices for the next two years, two people familiar with the

project told Reuters.

Plaquemines has two phases with different customers and

timelines for delivery of LNG. The Phase 2 customers include

ExxonMobil ( XOM ) , Chevron ( CVX ), EnBW, New

Fortress Energy ( NFE ), China Gas ( CGHOF ), Petronas

and Excelerate Energy ( EE ). They are not expected to receive

their LNG until the company completes its commissioning in the

middle of 2027, Venture Global ( VG ) has previously said.

By producing LNG from Phase 2 now, Venture Global ( VG ) should be

able to export the gas for two years at higher liquefaction fees

before it is required to provide its long-term customers with

LNG at lower fees.

On Sunday, Plaquemines pulled a record 2.9 billion cubic

feet of gas, according to preliminary data from financial firm

LSEG.

Venture Global ( VG ) did not respond to a request for comment.

On Friday, the company asked federal regulators for

permission to introduce natural gas into Block 14, according to

a filing with the Federal Energy Regulatory Commission.

Block 14 is in Phase 2 of the 27.2 million metric tons per

annum Plaquemines export facility, with Phase 1 consisting of 12

blocks, according to Venture Global's ( VG ) website.

The entire Plaquemines facility is designed to have 18

blocks, with 12 in Phase 1 and six in Phase 2. Each block has

two liquefaction trains.

Venture Global ( VG ) has said its strategy is to have extended

commissioning periods by completing construction of its plants

years ahead of when it expects to make LNG available at lower

costs to contracted customers, allowing it to earn higher

revenue by selling its cargoes on the spot market.

Last week it revealed that in the second quarter of 2025 it

made $7.09 per million British thermal units (mmBtu) in

liquefaction fees from spot market sales of LNG from Plaquemines

Phase 1. That is more than double the fees it received from

selling LNG to its long-term customers from its Calcasieu Pass

facility, which averaged $2.66 per mmBtu.

Venture Global's ( VG ) stock price has climbed almost 18% in the

last week, trading this morning at just under $18, up more than

150% from a low of $7 on April 7.