NEW YORK, March 24, 2026, 11:21 EDT
Venture Global shares jumped roughly 7.5% Tuesday, bucking a weaker Wall Street session after the U.S. LNG exporter locked in a new sales agreement with Vitol. Traders continued cycling into LNG stocks as supply worries intensified in the Gulf. By 11:06 a.m. EDT, the stock was trading at $16.98, up $1.18, just shy of its session peak of $17.57. Reuters
This move lands at a moment when two separate developments collided. On Tuesday, QatarEnergy declared force majeure on some long-term LNG deals — using the contract clause that frees it from supply obligations after uncontrollable events. Just a day earlier, Venture Global secured a fresh buyer for 1.5 million tonnes per year, locked in for five years. That deal sharpens the sense that U.S. LNG cargoes could remain a fallback if supply from the Middle East stays shaky. Reuters
Chief Executive Mike Sabel pointed to “rapidly growing” global appetite for flexible, reliable U.S. LNG in the company’s statement. On Vitol’s side, Pablo Galante Escobar, the firm’s global head of LNG, said the trading house is after more “diverse and reliable” energy options for its customers and partners. Venture Global
Conditions keep tightening. Cheniere Energy, which stands as the largest U.S. LNG exporter, weighed in Monday: the Middle East unrest, executives said, highlights a real need for diversified supply. CFO Zach Davis added that Cheniere is already operating beyond its stated maximum capacity—no incremental output available until new units come online later this year. Reuters
No surprise, then, that Venture Global has drawn so much scrutiny. According to Reuters, the company is capable of shipping over 37 million tonnes of LNG annually, holding back roughly 30% for spot sales—cargoes priced at the short-term market rate—while Cheniere commits 94% of its supply to long-term deals. Reuters
Speaking Monday at CERAWeek in Houston, Sabel said Venture Global is in talks to resolve the outstanding arbitration cases tied to delayed Calcasieu Pass shipments. He added that the firm aims to boost LNG sales on five-year deals while CP2 ramps up, targeting output at 150% of the plant’s stated 20 million-tonne capacity. Reuters
Still, things aren’t set in stone. Sabel isn’t counting on any extra output this year beyond the current schedule, while Shell’s Cedric Cremers flagged geopolitical shocks as sending “the wrong signals” to gas buyers. Reuters
Legal clouds are still hanging over the situation. BP scored an arbitration win over Venture Global. Venture Global, for its part, notched victories in separate disputes with Shell and Repsol. Several cases remain in limbo. Sabel, however, indicated the company is willing to discuss settlements. Reuters
Tuesday’s rebound wasn’t enough to lift the stock above its January 2025 IPO price of $25. But traders are shifting their calculus fast—buyers now seem more focused on ensuring supply security and broader sourcing, rather than just chasing the lowest LNG cargo price. Reuters
