Venture Global, Inc. delivered robust financial and operational performance in the fourth quarter of 2025, driven by increased liquefied natural gas (LNG) production and progress on key export projects. The company reported adjusted EBITDA of $480 million and revenue of $615 million, exceeding analyst expectations.
- Q4 2025 revenue: $615 million, up 19% YoY
- Adjusted EBITDA: $480 million, a 22% increase from 2024
- Plaquemines LNG Train 1 operational since January 2025
- Backlog of contracted LNG volume exceeds 30 million tons
- Guidance for 2026 adjusted EBITDA: $1.9 billion
- Capital investment of $120 million to accelerate second train at Plaquemines
Venture Global, Inc. posted solid results for Q4 2025, marking a pivotal quarter in its expansion within the global LNG market. The company reported revenue of $615 million and adjusted EBITDA of $480 million, reflecting a 22% year-over-year increase in earnings and a 19% rise in revenue compared to the same period in 2024. These gains were primarily fueled by higher throughput at its Calcasieu Pass and Plaquemines LNG export terminals in Louisiana, which collectively achieved a 97% utilization rate during the quarter. The company’s operational momentum was underscored by the successful commissioning of the first train at its Plaquemines LNG facility, which began commercial operations in January 2025. This milestone enabled Venture Global to secure long-term contracts with European and Asian utilities, including a 10-year agreement with a Japanese energy trader for 1.8 million tons of LNG annually beginning in 2026. The company’s backlog of contracted volume now exceeds 30 million tons across its two major export projects. In the broader market, Venture Global’s performance contributed to a 4.3% rise in the Vanguard Energy ETF (VGT), which tracks energy sector performance. The company’s stock price gained 6.8% in after-hours trading following the earnings release, with investors responding positively to its guidance for full-year 2026 adjusted EBITDA of $1.9 billion, up from $1.6 billion in 2025. Oil prices, tracked via CL=F, remained stable during the reporting period, supporting the broader energy sector’s resilience. The company also announced a $120 million capital investment to accelerate the second train at Plaquemines, with completion targeted for late 2027. This move reinforces Venture Global’s position as a key player in U.S. LNG export capacity expansion amid growing global demand and shifting trade flows.