Venture Global (VG) -- Printing Money -- WSJ -- April 8, 2026

Locator: 50466VG. 

Link here. 

VG could be / will be "bigger" than Qatar and Cheniere.

Venture Global is positioned for a repeat (see linked article) scenario that could boost its ambition to not only surpass Cheniere, but also overtake Qatar, the tiny Middle Eastern nation that sits on some of the world’s largest gas reserves and has become an LNG juggernaut.

The Strait of Hormuz remains closed to most tankers, which has clogged LNG flows, and Iran’s missiles have crippled Qatar’s facilities that liquefy and ship natural gas. [The writer forgot to mention the damage to Qatar's export terminal / liquefaction capacity in Qatar due to the war; estimates: three years to get that terminal back to "normal."]

That has turned Venture Global’s available cargoes into a hot commodity. Unlike Cheniere, which sells most of its cargoes under long-term contracts, Venture Global reserves a large share of its volumes for spot markets, where prices can fluctuate widely. 

Operation EPIC FURY -- This Is Starting To Get Serious -- For Saudi Arabia -- March 28, 2026

Locator: 50351SAUDI.

This could be incredibly serious for Saudi Arabia -- it's not as if Venezuela doesn't exist? 

For the US:

• The original objective: help Israel take out Iran's nuclear program. 
• The new objective: find an off-ramp.   

*******************************
Long Term

AI prompt: 

Are Exxon, Chevron, others seriously considering Venezuela now with threat of Strait of Hormuz being controlled by Iran as the new normal?

Reply: 

And this is heavy oil, highly coveted by US refiners. 

 

You know, this is very, very interesting. Trump said today that going into the "war," he expected markets to fall much more than they have, and he expected the price of oil to surge much more than it has. That still may happen.

 

But presidents are change agents and think strategically. If one starts connecting the dots, it sure seems like Trump, Rubio, etc., are spending a a lot of time thinking about the Monroe Doctrine and acting.

 

Cuba.

Maduro / Venezuela.

 

The Panama Canal / kicking China out.

Stopping renewal energy growth -- is determined to end windmills in America. 

 

In the big scheme of things, it doesn't take oil companies to turn things around pretty quickly if they want.

Look at the time line for the Bakken revolution. Less than a decade to go from zero to a million bopd. 

 

And that was pretty much all "unproven" going in.

Venezuela: "they" already know what Venezuela has. 

 

Ticker: CVX -- 30-year horizon -- 

 

Windfall profits tax? Not under this administration, but in 2029? Certainly likely. 

 

LNG:

• Cheniere: share price up 26% over six months;
• Venture Global: share price up23% over same six months;
• Reported yesterday: Cheniere's fifth train is now operational -- 

AI prompt:  

How does Cheneire's current LNG export capacity with 5th train now operational at Corpus Christi compare with VG's total export capacity?

Reply:  

Astounding! Is anyone paying attention? 

• Cheniere: by far and away, the largest at 50 mtpa;
• VG: seeks to be exporting twice that amount in less than four years (100+ mtpa) 

QatarEnergy Took A Huge Hit At Home -- How's QatarEnergy Doing With Golden Pass, Texas -- March 24, 2026

Locator: 50309QATAR. 

Tag: LNG 

AI prompt was in the subject line.

The answer: 

How Big Was The Vitol Deal For Venture Global? March 23, 2026

Locator: 50305LNG.

And CP2?

LNG US Export -- Post-Iran War -- March 23, 2026

Locator: 50304LNG.

Link here. 

LNG US export forecast, link here. 

************************
Back On Top In June

Link here. 

Venture Global -- RBN Energy -- One Year Ago -- Re-Posting -- March 14, 2026

Locator: 50222VG.

Compare this chart with the chart at the bottom of the blog.

*******************************
Re-Posting

This was from a year ago, January 29, 2025, link here: 

Locator: 48428RBNVG.

RBN Energy: assessing Venture Global's assets in the wake of its $1.75 billion IPO. Archived.

Venture Global put U.S. LNG on center stage after going public on January 24. The company, now listed as VG on the New York Stock Exchange (NYSE), launched one of the largest initial public offerings (IPO) in U.S. energy history. The IPO shares were priced at $25 each, raising $1.75 billion but valuing the company at $60 billion, a significant drop from the company’s initial target of up to $110 billion. While Venture Global was able to capitalize on some truly fantastic timing, going public just as President Trump took office and lifted the export permit ban, the market remains cautious about LNG and the energy sector. While Trump will certainly smooth the path at least somewhat to new LNG buildout, lawsuits and regulatory hurdles won’t simply disappear overnight. In addition to the general regulatory uncertainty facing the industry, there is also the matter of Venture Global’s contentious relationship with its original customers: Shell, BP and others have brought arbitration cases against the company that have yet to be resolved. In today’s RBN blog, we take a closer look at Venture Global, its assets and what its IPO says about U.S. LNG. 

Venture Global is one of the largest players in U.S. LNG, with the 10-MMtpa (1.32 Bcf/d) Calcasieu Pass operational, although still technically commissioning (more on that shortly); the 20-MMtpa (2.65 Bcf/d) Plaquemines LNG under construction or commissioning now; CP2 in the late stages of development and nearing a final investment decision (FID); and two more speculative projects to pursue after CP2. Between Calcasieu Pass and Plaquemines, the company will own and operate 30 MMtpa (4 Bcf/d) by the end of 2027, leaving it second to only Cheniere Energy when it comes to U.S. LNG output (see King Creole for more on the big three players in U.S. LNG). And with more projects in the queue, Venture Global is obviously shooting for Cheniere’s crown. All of Venture Global’s LNG projects use midscale modular technology rather than traditional large-scale trains, promising investors shorter construction timelines and requiring less startup capital to build these smaller, factory-fabricated, but scalable units.

Venture Global took FID on its first U.S. LNG terminal, Calcasieu Pass, in August 2019, although the project had been under construction since February of that year. The terminal has 18 mini trains, grouped into nine blocks, for a total nameplate capacity of 10 MMtpa (1.32 Bcf/d) and an expected peak capacity of 12.4 MMtpa (1.64 Bcf/d). Nameplate capacity is what is guaranteed by the design of the project by the engineering partners, but all LNG terminals have the ability to produce above that level. 

With This Project, Venture Global Should Be On Track To Become The Largest US LNG Exporter -- March 13, 2026

Locator: 50213LNG.

Tag: Venture Global  

Venture Global shares up 40% in one month. 

Link here. 

US LNG Export Terminal Update -- February 21, 2026

 

US LNG export terminals status 2025 - 2026:

From November, 2025:

Today, update, February 21, 2026: 

Five New Permits; Three DUCs Reported As Completed -- Wednesday, May 28, 2025

Locator: 48704B.

Measles outbreak in Texas: starting to burn itself out. Link here.

Nvidia's long coat-tails: futures don't mean squat but nonetheless, it is what it is --

California bullet train: losing support from more and more California politicos. Most will be dead or out of office by the time the first significant leg is even running. Link here. Newsom's reason for keeping it: "too late to cancel." Wasn't that the British attitude in WWI? We've spent too much to quit now.

Paramount willing to settle for $15 million to settle CBS suit with President Trump. Trump's team wants $25 million+. The art of negotiation.

Driftwood LNG has a new name: Louisiana LNG. Yeah, that's the name: Louisiana LNG. Link to David Messler over at oilprice.

Woodside Energy, (NYSE:WDS), Australia’s largest energy operator, has moved into the North American LNG market in a big way over the last 6-9 months.

Beginning with its take-out of troubled LNG startup, Tellurian last fall, the company has moved at breakneck pace to move the fully permitted Driftwood LNG project along to FID.

Just last month Woodside stunned the investing community by announcing FID approval for the first three trains of the 27.6 mpta Driftwood, now renamed Louisiana LNG.

This is a bold move for this Australian energy producer that will bring on-line 16.5 mpta. From a press release, from the CEO:

“Louisiana LNG is a game changer for Woodside, set to position our company as a global LNG powerhouse and deliver enduring shareholder value for decades to come. Louisiana LNG combines access to an abundant US gas resource, a prime location with best-in-class EPC and technology partners. It builds on Woodside’s proven strengths in project execution, operational excellence, and LNG marketing to deliver significant cash generation potential and drive long-term shareholder value."

But look at this: 

Some challenges remain as only about 1 mpta of the plant’s approved 16.5 mpta output has been placed under long-term SPA’s (Sales and Purchase Agreement), in a contract with Uniper-a, a German utility company.

Other recent U.S. Gulf Coast LNG plants, notably Venture Global, and NextDecade, took the route of selling out 2/3 of their capacity before taking FID.

By moving forward and entering the market in the late 2020s, WDS can leapfrog other potential projects and corner the market for supply gas.

************************************
Back to the Bakken

WTI: $61.97.

Active rigs: 33.

Five new permits, #41959 - #41963, inclusive:

• Operators: Kraken (4); Petro-Hunt.
• Fields: Boxcar Butte (McKenzie County); West Ambrose (Divide County)
• Comments:
• Petro-Hunt has a permit for a State well, NENW 16-162-100; 
• to be sited 352 FNL and 2078 FWL;
• Kraken has permits for four Charity wells, SWSE 31-148-102 and SESW 31-149-101;
  
• with three sited 448 FSL and 2571 / 2637 FEL; and one sited 448 FSL and 2607 FWL.

Two permits renewed:

• Formentera Operations, FLX3 (#34950) and PTL4 (#34952).

Producing wells (DUCs) reported as completed:

• 33070, 1,168, BR, Mancord 14-10 MBH-ULW, Dunn County;
• 40780, 1,168, Oasis, Barnes Federal 5202 43-11 4B, McKenzie County;
• 40877, 683, Oasis, Barnes Federal 5202 43-11 5B, McKenzie County;

Venture Global: Top US LNG Firm With CP2 Project Approval -- Charles Kennedy -- May 23, 2025

Locator: 48659LNG.

Link here.

Venture Global is on track to surpass Cheniere Energy to become the biggest U.S. LNG company by liquefaction capacity if regulators approve the CP2 export project.

Venture Global is urging the Federal Energy Regulatory Commission (FERC) to greenlight its third liquefaction plant, CP2 in Louisiana, by the middle of the year.

The CP2 LNG facility will be located adjacent to Venture Global’s Calcasieu Pass LNG facility in Cameron Parish, Louisiana.

CP2 LNG was initially proposed to be a facility with a capacity of 20 million metric tons per annum (mtpa), but Venture Global has raised the maximum capacity to 28 mtpa.

Venture Global’s two operational LNG export terminals, Calcasieu Pass and Plaquemines, have a combined capacity of 38.5 mtpa. CP2 would add another 28 mtpa and raise the company’s total export capacity to 66.5 mtpa, above Cheniere’s 60 mtpa.

Venture Global more than doubled its first-quarter revenue from a year earlier as its Plaquemines and Calcasieu Pass plants have launched operations and exports in recent months.

Last month, Venture Global started contractual deliveries from its first LNG export project, Calcasieu Pass, to its long-term customers amid an ongoing dispute with major oil and gas firms over the delays to the official commercial operations date at the export project. 

Much more at the link.

*************************
LNG Termainals

From May 14, 2025: link here.

****************************************
North American LNG Project Tracker

Flashback: from November 6, 2023.

Locator: 45962LNG.     

Link here. 

Saudi - Trump: A Trillion Dollars In Deals In Two Days? -- May 14, 2025

Locator: 48624SAUDI.

Updates

8:04 a.m. PT, May 14, 2025: I asked the same question for Oracle and Broadcom and got surprising answers. LOL. 

8:02 a.m. PT, May 14, 2025: how investors can use ChatGPT -- I simply used "option-space bar" to open. my ChatGPT on my laptop while lying in bed, and asked the question (see below) and ChatGPT gave me this answer:

8:00 a.m. PT, May 14, 2025: I came across this after I posted my notes below.

Original Post

Saudi photo-ops: must see. One of many examples.

US LNG handshake Louisiana LNG project; link here.

NVDA:

• CEO announces chip deal with Saudi-backed Humain
• to power 500MW AI data center,
• scaling to 1.9 GW by 2023

AMD: hits a three-month high; link here;

• AMD joins Saudi firm Humain
• $10-billion push to build AI infrastructure

Humain:

• website; front page pretty stale;
• Nvidia
• AMD
• QCOM;
• AWS;

From ChatGPT, Humain: Saudi Arabia's state-backed AI powerhouse.

Mohammed bin Salman under the Public Investment Fund (PIF). As part of Saudi Arabia’s Vision 2030 initiative, HUMAIN aims to position the Kingdom as a global leader in AI by developing comprehensive AI infrastructure, including advanced data centers and Arabic-language AI models. The company has announced strategic partnerships with tech giants like NVIDIA, AMD, and AWS to build AI “factories of the future” and enhance the nation’s digital capabilities 

The stories continue to come.

• Trump’s trip to the Middle East
• deals worth a trillion dollars in two days
• Saudi Arabia surges in global influence;
• Trump removes sanctions on Syria
• huge deals with Qatar: Qatar to buy more Boeing jets. Says relationship with US reaches new highs.