Venture Global LNG Inc. (VGER) retraced its gains in late 2025, closing November 2025 at approximately $16.20—its lowest level since April 2024. The decline reflects broader headwinds in the liquefied natural gas sector and growing investor skepticism toward mid-cap energy growth stocks.
- VGER closed at $16.20 in late November 2025, matching its April 2024 low
- Stock declined 27% from September 2024 peak and 42% from 2024 high
- Plaquemines project at 85% completion; Calcasieu Pass at 78%
- Market cap fell to $11.4 billion from $17.8 billion in June 2024
- Broader mid-cap energy sector down 12% YoY in 2025
- EIG ETF holds 1.2% stake in VGER, reflecting sector exposure
Venture Global LNG Inc. (VGER) retreated to levels not seen since April 2024 by the end of November 2025, closing at $16.20 per share. This marked a 27% decline from its peak in September 2024 and a 42% drop from the all-time high reached in early 2024. The stock had briefly recovered in the third quarter of 2025, supported by progress on its Calcasieu Pass and Plaquemines LNG export projects, but failed to sustain momentum amid shifting market dynamics. The reversal underscores a broader consolidation in the U.S. LNG sector, where rising global supply and sluggish Asian demand have pressured pricing and project economics. Venture Global’s two primary export terminals—Calcasieu Pass (15 million tons per year) and Plaquemines (18 million tons per year)—remain under development, but delayed timelines and higher financing costs have contributed to investor caution. As of November 2025, the company reported that the Plaquemines project had reached 85% completion, while Calcasieu Pass was at 78%, yet neither facility has entered commercial operations. Market sentiment has been further weighed down by macroeconomic pressures, including persistent U.S. interest rate policy and a weaker-than-expected natural gas export outlook for 2026. The broader energy sector, particularly mid-cap exploration and infrastructure firms, has seen a 12% average decline in equity values over the same period. VGER’s market capitalization fell to approximately $11.4 billion in late November, down from $17.8 billion in June 2024. The move has implications for institutional investors and ETFs with exposure to U.S. energy infrastructure, such as the Global X U.S. Energy Infrastructure ETF (EIG), which holds a 1.2% weighting in VGER. Analysts note the stock’s technical breakdown below its 200-day moving average may trigger further selling in the short term, particularly if LNG export volumes fail to meet revised 2026 forecasts.