The 130 LNG cargoes compare to 128 LNG cargoes in the fourth quarter, 100 LNG cargoes in the third quarter, 89 LNG cargoes in the second quarter, and 63 LNG cargoes in the first quarter of 2025.
Venture Global said in an SEC filing that it sold and recognized in revenue 480.8 TBtu of LNG at an implied weighted average fixed liquefaction fee of $3.82 per MMBtu during the quarter.
Calcasieu Pass
For the quarter ended March 31, 2026, Venture Global exported 38 cargoes from its Calcasieu Pass facility, the same as in the previous quarter.
According to Venture Global, its third-party sales of LNG sourced from the Calcasieu Pass facility totaled 140.1 TBtu at an implied weighted average fixed liquefaction fee of $2.01 per MMBtu, inclusive of adjustments for estimated arbitration reserves, during the quarter.
In April 2025, Venture Global launched commercial operations at its Calcasieu Pass LNG terminal, some 68 months from its final investment decision and 38 months after production start.
The Calcasieu Pass facility consists of 18 modular units configured in 9 blocks.
Customers of the Calcasieu Pass facility include Shell, BP, Repsol, Edison, Galp, PGNiG, now part of Orlen, Sinopec’s unit Unipec, and CNOOC.
Venture Global and Italian energy firm Edison, a unit of EDF, recently signed a commercial agreement to settle the pending arbitration over LNG sales from the Calcasieu Pass plant in Louisiana.
As part of the settlement, Edison and Venture Global have also agreed to deliver additional LNG cargoes to Europe.
Plaquemines LNG
Venture Global said in the filing that it has exported 92 cargoes from its Plaquemines LNG facility in Louisiana during the first quarter, two cargoes more compared to the previous quarter.
The company sold and recognized in revenue 339.6 TBtu of LNG from its Plaquemines facility.
For the quarter ended March 31, 2026, Venture exported two DES (delivery ex-ship) cargoes (8.3 TBtu) from the Plaquemines facility on its owned or chartered LNG vessels that will be recognized in the following quarter.
Venture Global is seeking approval from the US FERC to boost the capacity of its Plaquemines LNG terminal to 35 mtpa.
Last year, Venture Global received approval from FERC to boost the capacity of its Plaquemines LNG terminal to 27.2 mtpa, without any new facilities, construction activities, or modifications to the previously authorized facilities.
The company is targeting a COD (commercial operations date) for the Plaquemines project in the fourth quarter of 2026 for Phase 1 and in mid-2027 for Phase 2.
$1.75 billion credit facility
Venture Global also announced in a separate statement that its subsidiary Calcasieu Pass Funding, which indirectly controls the Calcasieu Pass project, entered into a $1,75 billion senior secured, term loan B credit facility.
The company used a portion of the proceeds from the facility to redeem, in full, the preferred equity interests of the company that were previously issued to Stonepeak Bayou Holdings II LP.
“This transaction meaningfully reduces our overall cost of capital while further strengthening our balance sheet and liquidity position,” said Venture Global CEO Mike Sabel.
“Just as importantly, it demonstrates our continued ability to efficiently access the capital markets, even in a dynamic environment. We believe this enhanced financial flexibility positions us well to execute on our strategic priorities and drive long-term value for our stakeholders,” Sabel said.
