Venture Global (NYSE: VG) reports 480.8 TBtu LNG sales and fees
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Venture Global, Inc. reported key LNG operating metrics for the quarter ended March 31, 2026, including sales of 480.8 TBtu of LNG at an implied weighted average fixed liquefaction fee of $3.82 per MMBtu and 130 cargos exported from its facilities.
The company sold and recognized revenue on 141.2 TBtu and 38 cargos from its Calcasieu Pass facility and 339.6 TBtu and 92 cargos from its Plaquemines facility. It also exported two Plaquemines DES cargos totaling 8.3 TBtu that will be recognized next quarter, and reiterated its revenue recognition policy and that full first-quarter 2026 financial results will be released with its earnings announcement.
Positive
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Negative
- None.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
LNG sold and recognized in revenue: 480.8 TBtu
Implied weighted average fixed liquefaction fee: $3.82 per MMBtu
Total LNG cargos exported: 130 cargos
+5 more
8 metrics
LNG sold and recognized in revenue
480.8 TBtu
For the quarter ended March 31, 2026, company-wide
Implied weighted average fixed liquefaction fee
$3.82 per MMBtu
For LNG sold in the quarter ended March 31, 2026
Total LNG cargos exported
130 cargos
From all LNG facilities in Q1 2026
Calcasieu Pass LNG volumes
141.2 TBtu
Sold and recognized in revenue for Q1 2026
Calcasieu Pass cargos
38 cargos
Exported during the quarter ended March 31, 2026
Plaquemines LNG volumes
339.6 TBtu
Sold and recognized in revenue for Q1 2026
Plaquemines cargos
92 cargos
Exported during the quarter ended March 31, 2026
DES cargos recognized next quarter
8.3 TBtu (2 cargos)
Exported from Plaquemines in Q1 2026, DES basis
Key Terms
implied weighted average fixed liquefaction fee, Free on Board ("FOB"), Delivered Ex-Ship ("DES"), Delivered Place Unloaded ("DPU"), +2 more
6 terms
implied weighted average fixed liquefaction fee financial
"announced the volume of LNG cargos exported ... and the implied weighted average fixed liquefaction fee"
Free on Board ("FOB") financial
"Revenue associated with cargos exported on a Free on Board ("FOB") basis is generally recognized"
Delivered Ex-Ship ("DES") financial
"Revenue associated with cargos exported on a Delivered Ex-Ship ("DES"), Delivered Place Unloaded ("DPU")"
Delivered Place Unloaded ("DPU") financial
"Delivered Ex-Ship ("DES"), Delivered Place Unloaded ("DPU") or other delivered basis is generally recognized"
Consolidated Adjusted EBITDA financial
"We do not provide a reconciliation of forward-looking amounts of Consolidated Adjusted EBITDA to net income"
Consolidated adjusted EBITDA is a company’s combined operating profit across all its units before interest, taxes, depreciation and amortization, further cleaned up by removing one‑time, noncash or unusual items so it shows the ongoing cash-generating performance. Think of it as the business’s engine power after stripping out financing, tax rules and one-off events—investors use it to compare operating health and value companies, but it’s not a formal accounting measure.
forward-looking statements regulatory
"This on contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 9, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Zip Code) | ||||||||
(Address of Principal Executive Offices) | ||||||||
Registrant’s telephone number, including area code: (202 ) 759-6740
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
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Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On April 9, 2026, Venture Global, Inc. (“Venture Global” or the “Company”) announced the volume of LNG cargos exported from its facilities and the implied weighted average fixed liquefaction fee realized by the Company for the quarter ended March 31, 2026.
During the commissioning or operations phases of one or more of the Company’s facilities, the Company may disclose after the end of the calendar quarter, but before the Company’s quarterly earnings report, certain key performance metrics.
Venture Global
For the quarter ended March 31, 2026, Venture Global sold and recognized in revenue 480.8 TBtu of LNG at an implied weighted average fixed liquefaction fee of $3.82 per MMBtu during the quarter. During that period, Venture Global exported 130 cargos from its LNG facilities.
Calcasieu Pass
For the quarter ended March 31, 2026, Venture Global sold and recognized in revenue 141.2 TBtu of LNG from its Calcasieu Pass facility. During that quarter, Venture Global exported 38 cargos from its Calcasieu Pass facility.
Plaquemines
For the quarter ended March 31, 2026, Venture Global sold and recognized in revenue 339.6 TBtu of LNG from its Plaquemines facility. During that quarter, Venture Global exported 92 cargos from its Plaquemines facility.
Revenue Recognition
The Company recognizes revenue when it transfers control of promised goods or services to its customers in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services. Revenue from the sale of LNG is recognized by the Company at the point in time when the LNG is delivered to the customer at the agreed upon LNG terminal which is the point when legal title, physical possession and the risks and rewards of ownership transfer to the customer. Each individual molecule of LNG is viewed as a separate performance obligation.
Revenue associated with cargos exported on a Free on Board (“FOB”) basis is generally recognized when the LNG vessel is loaded and unmoors from one of our facilities. Revenue associated with cargos exported on a Delivered Ex-Ship (“DES”), Delivered Place Unloaded (“DPU”) or other delivered basis is generally recognized upon delivery of the LNG at the vessel destination. Occasionally, revenue associated with a cargo we export from our LNG terminals in a reporting period under such DES, DPU or other delivery terms will be recognized by the Company in a subsequent reporting period due to the time required for the vessel to successfully travel to its destination and unload its cargo.
For the quarter ended March 31, 2026, we exported two DES cargos (8.3 TBtu) from our Plaquemines facility on our owned or chartered LNG vessels that will be recognized in the following quarter.
First Quarter 2026 Results
The Company’s net income, cash flow and other results will be announced along with the rest of its financial performance when the Company announces first quarter earnings. The volume of LNG cargos exported and the implied weighted average fixed liquefaction fee realized by the Company represent only a few measures of the Company’s operating performance for the quarter ended March 31, 2026, and should not be relied on as sole indicators of quarterly financial results, which depend on a variety of factors.
We do not provide a reconciliation of forward-looking amounts of Consolidated Adjusted EBITDA to net income, the most directly comparable financial measure prepared and presented in accordance with GAAP, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Many of the adjustments and exclusions used to calculate the projected Consolidated Adjusted EBITDA may vary significantly based on actual events, so we are not able to forecast on a GAAP basis with reasonable certainty all adjustments needed in order to provide a GAAP calculation of these projected amounts. The amounts of these adjustments may be material and, therefore, could result in the GAAP measure being materially different from (including materially less than) the projected non-GAAP measures. The guidance in this current report on Form 8-K
is only effective as of the date it is given and will not be updated or affirmed unless and until we publicly announce updated or affirmed guidance. Net income as used herein refers to net income attributable to common stockholders on our Condensed Consolidated Statements of Operations.
Forward-Looking Statements
This current report on Form 8-K contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical facts, included herein are “forward-looking statements.” In some cases, forward-looking statements can be identified by terminology such as “may,” “might,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” the negative of such terms or other comparable terminology.
These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, including in relation to our recognition of revenue, expectations regarding the development, construction, commissioning and completion of our projects, expectations regarding sales of LNG cargos, estimates of the cost of our projects and schedule to construct and commission our projects, our anticipated growth strategies and anticipated trends impacting our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors are more fully detailed in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission (“SEC”) and any subsequent reports filed with the SEC. In addition, any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
The information furnished with this Item 2.02 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Exhibit Title or Description | |||||||||||||||||||||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||||||||||||||||||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Venture Global, Inc. | |||||
| Dated: April 9, 2026 | |||||
By: /s/ Jonathan Thayer | |||||
| Jonathan Thayer | |||||
| Chief Financial Officer | |||||
FAQ
What LNG volumes did Venture Global (VG) report for Q1 2026?
Venture Global reported selling and recognizing revenue on 480.8 TBtu of LNG for the quarter ended March 31, 2026. This volume reflects combined output from its Calcasieu Pass and Plaquemines facilities and underpins the company’s LNG revenue performance for the period.
What liquefaction fee did Venture Global (VG) realize in Q1 2026?
For Q1 2026, Venture Global realized an implied weighted average fixed liquefaction fee of $3.82 per MMBtu. This fee level, applied to 480.8 TBtu sold, is a key driver of the company’s LNG revenue, though full financial results will follow in its earnings release.
How many LNG cargos did Venture Global (VG) export in Q1 2026?
Venture Global exported 130 LNG cargos during the quarter ended March 31, 2026. These included 38 cargos from the Calcasieu Pass facility and 92 cargos from the Plaquemines facility, highlighting active shipping activity across the company’s U.S. Gulf Coast export terminals.
What were Q1 2026 volumes from Venture Global’s Calcasieu Pass facility?
From Calcasieu Pass, Venture Global sold and recognized revenue on 141.2 TBtu of LNG in Q1 2026. The company also exported 38 cargos from this facility during the quarter, contributing a significant share of its overall LNG volumes and revenue-generating activity.
What were Q1 2026 volumes from Venture Global’s Plaquemines facility?
From its Plaquemines facility, Venture Global sold and recognized revenue on 339.6 TBtu of LNG and exported 92 cargos in Q1 2026. These Plaquemines volumes represent the majority of the company’s reported LNG sales and cargo count for the quarter.
How does Venture Global (VG) recognize LNG revenue for FOB and DES cargos?
Venture Global recognizes LNG revenue when control transfers to customers. For FOB cargos, revenue is generally recognized when the vessel is loaded and unmoors. For DES or DPU cargos, revenue is generally recognized upon delivery at the destination terminal when the LNG is unloaded.
Which Q1 2026 cargos will Venture Global recognize in the next quarter?
Venture Global exported two Plaquemines cargos on a DES basis totaling 8.3 TBtu in Q1 2026 that will be recognized in the following quarter. Because DES revenue is recognized upon delivery, transit timing shifts recognition into the next reporting period for these shipments.