Executives of Venture Global Inc., Arlington, Va., have increased their 2025 guidance for cargos from the company’s Calcasieu Pass and Plaquemines LNG plants by about 5 and say customers’ appetite for shipments is “fairly steady.”
In first-quarter 2025, Venture Global exported 34 cargos from Calcasieu Pass and 29 cargos from Plaquemines; both of those numbers were slightly above management’s earlier guidance. For all of 2025, chief executive officer Mike Sabel and his team now expect the two plants to export 378 cargos at the midpoint of their range, up from 373 just 2 months ago—when the company announced plans to add a third phase to Plaquemines (OGJ Online, March 6, 2025).
Discussing first-quarter net earnings of $517 million on revenues of nearly $2.9 billion, executives said 109 of the possible 116 export cargos remaining in 2025 from Calcasieu are contracted. At Plaquemines, which is ramping up production, 42% of the roughly 200 potential remaining 2025 cargos have been contracted.
The company exported 234 trillion btu during first-quarter 2025, a jump of 93% from the last quarter of 2024. Sabel told analysts on a conference call customer demand for Venture Global’s services is holding up and that his sales team is looking to sign more 20-year supply contracts that will smooth out the company’s growth path.