Arlington, Va.-based Venture Global, Inc. (NYSE: VG) and global commodities trader Vitol have executed a binding agreement for the supply of approximately 1.5 million tonnes per annum (MTPA) of U.S. liquefied natural gas (LNG) from Venture Global’s portfolio. The five-year deal commences in 2026 and marks another step in the U.S. LNG producer’s strategy to offer customers a flexible mix of short-, medium-, and long-term supply contracts.
No pricing or destination details were disclosed, which is typical for such portfolio-based agreements. The LNG will be drawn from Venture Global’s growing fleet of facilities, including Calcasieu Pass, Plaquemines LNG, and the recently FID’d CP2 LNG project in Louisiana. Venture Global CEO Mike Sabel said: “Global demand for flexible, reliable U.S. LNG is rapidly growing, and Venture Global is proud to work with premier LNG trading companies like Vitol to provide this critical supply to the market. Thanks to our innovative model, we have the ability to provide our customers with short, medium, and long-term LNG supply, and this agreement is another important step in diversifying the tenor of our LNG portfolio.” Pablo Galante Escobar, Global Head of LNG at Vitol, added: “Vitol is delighted to be working with Venture Global, a leading producer and supplier of LNG to world markets. LNG is important to many economies worldwide. Through this transaction, Vitol is expanding its supply base to be able to offer diverse and reliable sources of energy to our customers and partners around the world.”
Deal Context and Recent Momentum
This is the latest in a string of commercial wins for Venture Global. In recent weeks, the company also signed a five-year deal for 0.5 MTPA with Trafigura (commencing 2026) and a 20-year SPA for 1.5 MTPA with Hanwha Aerospace (starting 2030). Since the beginning of 2025, Venture Global has contracted roughly 9.75 MTPA of new volumes. The company now has more than 100 MTPA of LNG capacity in production, construction, or development and is on track to become the largest U.S. LNG exporter once CP2 Phase 2 comes online. On March 13, 2026, Venture Global announced final investment decision (FID) and $8.6 billion in project financing for CP2 Phase 2, bringing total financing for the project to $20.7 billion with no additional equity required.
Venture Global’s Latest Earnings: Record 2025, Guidance for 2026
Venture Global released its Q4 and full-year 2025 results on March 2, 2026, showing explosive growth driven by higher volumes at Plaquemines and stable operations at Calcasieu Pass. Full-Year 2025 Highlights (all figures in billions): Revenue: $13.8 (+177% YoY)
Income from operations: $5.2 (+192% YoY)
Net income: $2.3 (+53% YoY)
Consolidated Adjusted EBITDA: $6.3 (+198% YoY)
LNG sold: 1,408.8 TBtu (+181% YoY); 380 cargoes exported (record)
Q4 2025 alone delivered $4.4 billion in revenue (+192%), $2.0 billion Adjusted EBITDA (+191%), and 478 TBtu sold.
2026 Outlook (unchanged from the Q4 release): Consolidated Adjusted EBITDA: $5.2 – $5.8 billion (includes Q1 impact from Winter Storm Fern and expected margin compression)
Q1 2026 EBITDA: $1.15 – $1.25 billion
Expected cargo exports: 486–527 total (145–156 from Calcasieu; 341–371 from Plaquemines)
Plaquemines Phase 1 commercial operations date (COD) targeted for Q4 2026
Sensitivity: ±$1.00/MMBtu change in fixed liquefaction fees impacts full-year EBITDA by ~$575–625 million
CEO Mike Sabel noted the team exceeded every 2025 operational target and expects “an even more productive year in 2026, with exported cargos growing to over 500” plus continued SPA momentum to support CP2 Phase 2. The company also closed a $2.0 billion corporate revolving credit facility, holds $2.4 billion in cash, and paid $270 million in preferred dividends in 2025. Construction at CP2 Phase 1 remains on budget for late-2027 first production.
How Does This Look for Investors?
Positive long-term signal. The Vitol deal further de-risks Venture Global’s portfolio by locking in medium-term offtake at a time when global LNG supply growth is accelerating and some analysts worry about oversupply. With CP2 Phase 2 now financed and Plaquemines ramping, the company is positioned to export significantly more volume in 2026 and beyond. Contracting nearly all nameplate capacity long-term (plus mid-term deals like Vitol and Trafigura) reduces exposure to spot-market volatility. Near-term caveats. 2026 EBITDA guidance is below 2025 levels and came in below consensus expectations, largely due to the winter storm and assumed liquefaction fees of $6–7/MMBtu on remaining unsold cargoes. The stock has been volatile (recent range ~$11–$16), trading around $13–$14 in recent sessions with a consensus analyst rating of Hold and average price target near $13. Some analysts view it as a hedge against LNG supply disruptions (e.g., Middle East tensions) but flag high leverage and construction risks.
Bottom line for Energy News Beat readers and investors: This deal reinforces Venture Global’s commercial momentum, supports its aggressive growth trajectory, and underscores sustained global demand for flexible U.S. LNG. While 2026 guidance reflects short-term headwinds, the volume ramp, new FIDs, and diversified contract book position VG for what could be a transformative 2026–2028 period as it cements its status as America’s top LNG exporter. Forward-looking statements in this article are based on company disclosures and subject to risks outlined in Venture Global’s SEC filings. Stay tuned to Energy News Beat for updates on U.S. LNG exports, project FIDs, and market-moving deals.
Sources: marketbeat.com, investors.ventureglobal.com, vitol.com,
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