Venture Global cuts 2025 profit forecast on volatile LNG prices, transport snags

Volume and pricing were affected by changes in Henry Hub and international LNG prices, as well as limited vessel availability in the Atlantic basin, Venture Global said in a filing with the Securities and Exchange Commission.

The second largest American LNG exporter now forecasts a 2025 core profit of between $6.18 billion and $6.24 billion, down from its previous estimate of $6.35 billion to $6.50 billion. Shares declined by about 3% on Monday to just over $7 in mid-morning trading.

Analysts were expecting core profit of $6.36 billion for the year, according to data compiled by LSEG.

The company said it pulled forward scheduled maintenance late in the quarter and used its fleet of owned and chartered vessels to mitigate some of the impacts of tight shipping markets.

The LNG firm said forward pricing for vessels in February and March has improved from 2025 year-end levels.

Liquefaction fees at Venture Global’s Plaquemines plant, from which it sells all of its LNG on the spot market, were considerably higher than at its Calcasieu Pass plant, where it sells the LNG under long-term contract to customers including Shell and BP.

The weighted average fixed liquefaction fee from Plaquemines for the fourth quarter of 2025 was $6.02 per MMBtu, almost three times as high as the $2.01 per MMBtu seen at Calcasieu Pass, the company reported in its filing on Monday.

Venture Global’s share price has fallen more than 70% since it became a publicly traded company just over a year ago as it also faces numerous arbitration proceedings related to previous commissioning delays.