Venture Global Sticks to Plaquemines Delivery Schedule Amid Global Gas Price Surge
Venture Global is sticking to its delivery schedule for Phase 2 of its Plaquemines liquefied natural gas (LNG) terminal, despite a surge in global gas prices.
The price increase stems from the conflict between the United States and Israel against Iran, which has disrupted exports from the Gulf region, particularly Qatar. This has led to increased spot prices for LNG, with benchmarks rising in Europe and Asia.
Venture Global has built a reputation for rapid execution through a model combining modular construction with the sale of commissioning cargoes before its facilities are fully completed. However, this mechanism also creates tension between the company's contractual delivery obligations and the financial incentives to sell on the spot market at higher prices.
The company sent a letter to Phase 2 customers in September 2026, reassuring them that it would honor the contractual schedule despite current tensions in the global gas market. Venture Global has faced arbitration proceedings tied to its first terminal, Calcasieu Pass, where several major long-term customers have accused the exporter of selling cargoes on the spot market at a time when global gas prices had surged.