WASHINGTON, March 6, 2026, 08:49 EST
Venture Global is pushing the U.S. Department of Energy to boost the export cap on its Plaquemines LNG plant in Louisiana, targeting 35 million metric tons a year instead of the current 27.2 mtpa, a Thursday filing shows. In the March 5 application, the company said the proposed increase comes out of a refined look at their existing equipment—no new infrastructure needed. The figure also lines up with a separate filing with the Federal Energy Regulatory Commission, which seeks to raise peak output by June 25. 1
Timing is key here. After Qatar halted production this week, about 20% of global LNG supply vanished from the market almost overnight, sharply tightening conditions. Unlike in Europe, U.S. gas prices haven’t budged much—American LNG export terminals are already running close to capacity. Qatar’s energy minister also flagged the risk that more Gulf exporters might trigger force majeure clauses, which would let them pause deliveries if the conflict drags on. 2
Venture Global is moving to secure more gains while it expands its Gulf Coast portfolio. On Monday, the company reiterated that CP2 Phase I is both on schedule and within budget, targeting initial production for late 2027. Since the beginning of 2025, newly contracted volumes have hit about 9.75 mtpa. 3
Commercial momentum is building. On March 2, Venture Global and Trafigura unveiled a five-year agreement for approximately 0.5 mtpa, with deliveries kicking off this year. Just last week, Reuters reported another big step: a 20-year contract for 1.5 mtpa with Korea’s Hanwha Aerospace, set to begin in 2030. CEO Mike Sabel described the Trafigura deal as a move toward “flexible and reliable U.S. LNG.” 4
Plaquemines is picking up speed. On Monday, Venture Global told analysts the plant shipped 16.4 million metric tons in 2025 and confirmed all 36 production trains are now up and running. Phase 1, they said, remains set for commercial operations in the fourth quarter. The company projects 341 to 371 Plaquemines cargoes for 2026. 5
The filing puts Venture Global alongside heavyweight Cheniere Energy, which just last month submitted plans for a 24-mtpa Stage 4 expansion at Corpus Christi. Cheniere, the top U.S. LNG exporter, is pushing forward with growth on the Gulf Coast, a sign expansion remains a focus for the region’s big players. 6
Still, this squeeze could prove short-lived. Fatih Birol, head of the International Energy Agency, said Friday that about 300 billion cubic meters of new LNG supply is set to come online within five years, likely weighing on prices. So while Venture Global is eyeing more export capacity, the market—tight today—might not stay that way for long. 7
Legal uncertainty persists. This week, a New York judge shot down Shell’s attempt to toss out an arbitration award that went Venture Global’s way. BP, meanwhile, is still waiting on a damages decision in its dispute, so that litigation cloud continues as the company tries to expand export capacity. 8
