Venture Global Raises Profit Outlook and Plans 5GW of Gas-Powered AI Compute in Louisiana

The liquefied natural gas exporter now expects consolidated adjusted EBITDA of $10.0 billion to $10.3 billion this year, up from its previous range of $8.7 billion to $9.1 billion, the company said in its results statement. Analysts had expected about $9.2 billion, according to Reuters. Third-quarter adjusted EBITDA rose 69% from a year earlier to $2.58 billion. Revenue climbed 43% to $4.76 billion and net income attributable to common stockholders reached $2.55 billion.

The data centre plan gives one of the largest US LNG producers a second way to make money from the gas it controls. Venture Global is betting that its land, pipeline access and in-house construction team let it build power-hungry AI capacity faster than developers who depend on new grid connections. Chief executive Mike Sabel said the company believes "we can solve for the predominant challenges to the data center build out".

In October, Venture Global signed frame agreements with GE Vernova and Baker Hughes Energy Services for up to 16 power islands of 720 megawatts each, roughly 11.5 gigawatts of generating capacity in total, along with transformers and grid equipment. The company plans to use two locations, in Cameron Parish and Plaquemines Parish, about 250 miles apart. It aims to start delivering compute capacity in late 2028 and to reach about 5 gigawatts by the end of 2031.

The company calls the venture an island-mode AI utility and describes it as a potential new line of business on top of its LNG operations. To support the case, it pointed to about 15,000 acres of land it controls, access to around 13 billion cubic feet a day of pipeline capacity, about 4 gigawatts of existing power and a 1,000-person in-house engineering, procurement and construction team. The statement did not name any prospective data centre customers or say how the build-out would be financed.

The core LNG business supplied the record quarter. Venture Global exported 124 cargoes in the three months to September and sold 465.8 trillion British thermal units, up 25% from a year earlier. The first phase of its Plaquemines plant began commercial operations on October 31, and six cargoes had been loaded for long-term customers by November 10. Commercial operations for the second phase are targeted for mid-2027.

At CP2, its next project, first LNG is now expected around July 2027, about two years after the July 2025 final investment decision. Twenty-four of the project's 36 liquefaction modules are on site. The company is also targeting investment decisions on expansions of CP2 in early 2027 and Plaquemines in mid-2027.

Venture Global signed 2.0 million tonnes a year of new or expanded 20-year supply contracts. They include 1.0 million tonnes a year for ConocoPhillips starting in 2030 and 0.5 million tonnes a year for China Gas from the start of commercial operations at the CP2 expansion. It now expects to export 509 to 518 cargoes in 2026 and said 99% of this year's contracted volume is already committed.

The company secured a $3.0 billion revolving credit facility and has repaid $2.8 billion of a $3.0 billion equity bridge loan for CP2 since the start of the year. It declared a quarterly dividend of $0.04 a share, payable on December 31 to holders of record on December 15.