Venture Global Commences Commercial Operations of Phase One of Plaquemines LNG

Shell lifted the first post-commercial-operations cargo under a long-term sales and purchase agreement.

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• COD declared just over 53 months from FID on Phase One
• First long-term sales and purchase agreement (SPA) cargo lifted by Shell

ARLINGTON, Va.--(BUSINESS WIRE)-- On October 31, 2026, Venture Global (NYSE: VG) commenced commercial operations of the first phase of its second LNG export project – Plaquemines LNG – and the sale of low-cost, U.S. LNG to the first phase’s long-term customers. The commercial operations date (COD) for Phase 1 of Plaquemines LNG was reached in just over 53 months from the final investment decision on the project, making it among the fastest greenfield LNG projects ever completed.

“Achieving commercial operations at the first phase of our second LNG project in 53 months is a testament to our team's relentless dedication and hard work,” said Venture Global CEO Mike Sabel. “We are thrilled to hit another major milestone that enables us to continue delivering reliable, affordable American LNG to the global market. We deeply appreciate the collaboration of our regulators and supply chain partners, whose shared commitment helped us deliver this project safely and on schedule.”

The first post-COD cargo from Plaquemines Phase 1 departed today at 3:26 AM and was lifted by Shell. Venture Global looks forward to working with its long-term customers to deliver reliable and affordable US LNG supply for decades to come. These low-cost volumes will act as an important stabilizing force as the global LNG market endures an extended period of volatility.

About Venture Global

Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (LNG) with over 100 MTPA of capacity in production, construction, or development. Venture Global began producing LNG from its first facility in 2022 and is now one of the largest LNG exporters in the United States. The company’s vertically integrated business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. The company’s first three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located in Louisiana along the Gulf of America. Venture Global is developing carbon capture and sequestration projects at each of its LNG facilities.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements.” All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, statements regarding Venture Global’s business strategy, plans and objectives. Venture Global believes that the expectations reflected in these “forward-looking statements” are reasonable, however they are inherently uncertain and involve a number of risks and uncertainties beyond Venture Global’s control. In addition, assumptions may prove to be inaccurate. Actual results may differ materially from those anticipated or implied in “forward-looking statements” as a result of a variety of factors. These “forward-looking statements” speak only as of the date made, and other than as required by law, Venture Global undertakes no obligation to update or revise any “forward-looking statement” or provide reasons why actual results may differ, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261101596032/en/

Investors:
Ben Nolan
IR@ventureglobalLNG.com

Media:
Shaylyn Hynes
press@ventureglobalLNG.com

Source: Venture Global Inc.

Key Terms

sales and purchase agreement (spa) financial

A sales and purchase agreement (SPA) is a legally binding contract that sets out the full terms for buying or selling a company, its shares, or major assets, including the price, what is being transferred, conditions to close, and the parties’ key promises. For investors it matters because the SPA determines how value and risk are allocated—like a detailed house sale contract that specifies the price, what’s included, inspections, and who pays if hidden problems show up—so it affects deal certainty and potential future liabilities.

commercial operations date (cod) technical

The commercial operations date (COD) is the day a project, plant, or facility is declared ready to begin full, regular production or service and to operate for revenue under normal commercial conditions. COD marks the end of construction and testing or commissioning and the start of commercial performance for accounting, contract, and financing purposes; precise tests, output levels, or contractual milestones that establish COD can vary and are usually specified in project contracts or regulatory approvals.

final investment decision financial

A final investment decision is the point at which a person or organization chooses to move forward with a particular project or purchase after reviewing all the necessary information and options. It is like deciding to buy a house after considering all the costs, benefits, and alternatives. This decision is important because it determines whether and when the investment will be made, impacting future financial plans and outcomes.