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Venture Global Says Narrowing Timeline For First LNG Production From CP2 Project To July 2027

By Reuters News

Nov 10 (Reuters) - Venture Global, Inc. VG.N:

  • VENTURE GLOBAL Q3 EPS $0.96 VERSUS IBES ESTIMATE $0.49

  • VENTURE GLOBAL Q3 REVENUE $4.76 BILLION VERSUS IBES ESTIMATE $4.69 BILLION

  • VENTURE GLOBAL OUTLOOK FY CONSOL ADJUSTED EBITDA $10.0 BILLION TO $10.3 BILLION VERSUS IBES ESTIMATE $9.16 BILLION

  • VENTURE GLOBAL: IN Q3 EXPORTED 124 CARGOS, UP 24% AND SOLD 465.8 TBTU OF LNG, UP 25%

  • VENTURE GLOBAL: NARROWING TIMELINE FOR FIRST LNG PRODUCTION FROM CP2 PROJECT TO JULY 2027

  • VENTURE GLOBAL: ASSUME A FIXED LIQUEFACTION FEE RANGE OF $21.00/MMBTU - $22.00/MMBTU FOR OUR REMAINING UNSOLD CARGOS IN 2026

  • VENTURE GLOBAL: EXPECT TO EXPORT 152 - 154 CARGOS FROM CALCASIEU PROJECT AND 357 - 364 CARGOS FROM PLAQUEMINES PROJECT IN 2026

  • VENTURE GLOBAL: POSITIONED TO BEGIN COMPUTE CAPACITY DELIVERY IN LATE 2028, TO SCALE TO ABOUT 5 GW BY 2031 END THROUGH AI UTILITY BUSINESS

  • VENTURE GLOBAL: DEMAND FOR LONG-TERM CONTRACTS REMAINS ROBUST, EXPECT TO ADD MORE HIGH CREDIT QUALITY, 20-YEAR SPAS BEFORE YEAR END

  • VENTURE GLOBAL: MAINTAINING 2027 OUTLOOK FOR 575 TO 625 TOTAL CARGOS NEXT YEAR, WHICH INCLUDES 10 TO 20 CARGOS FROM CP2 DURING Q3 - REMARKS

  • VENTURE GLOBAL: THERE ARE LIKELY TO BE SOME COSTS ASSOCIATED WITH RAMPING UP THE START-UP OF CP2, DEVELOPMENT OF OUR AI UTILITY BUSINESS

Further company coverage: VG.N

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