Venture Global Stock Rises After US Approves Exports To Non-FTA Countries From Louisiana LNG Project, Retail’s Bullish
The company launched a final investment decision process regarding the CP2 expansion project earlier this month.
FollowVenture Global (VG) stock rose 2.9% on Wednesday after the firm received the approval of the U.S. Department of Energy to export liquefied natural gas (LNG) to non-free trade agreement (FTA) countries for its CP2 LNG project in Louisiana.
"We are grateful for the Trump Administration’s return to regular order and regulatory certainty that will allow us to further expand U.S. LNG exports," Venture Global CEO Mike Sabel said.
Earlier this month, the company also launched a final investment decision process regarding the CP2 expansion project, which has a nameplate capacity of 20 million metric tonnes per annum.
It has already inked 20-year sales and purchase agreements with the likes of ExxonMobil, Chevron, JERA, and New Fortress Energy for the initial phase of CP2.
The company said it is in active discussions for the remaining capacity and has launched significant off-site construction of the project while it awaits project authorizations from U.S. regulators.
"The benefits of expanding U.S. LNG exports have never been more clear, and I am proud to be taking action to support the American people and our allies abroad with more affordable, reliable, secure American energy," Energy Secretary Chris Wright said.
President Donald Trump had declared an energy emergency to boost U.S. fossil fuel production. The country is already the top exporter of LNG in the world.
In April, Venture Global is expected to begin commercial operations at its long-delayed Calcasieu Pass liquefied natural gas facility.
Retail sentiment on Stocktwits remained in the ‘bullish’ (58/100) territory, while retail chatter rose to ‘high.’
VG’s Sentiment Meter and Message Volume as of 02:56 a.m. ET on March 20, 2025 | Source: Stocktwits
One bullish investor noted that the approval came following a visit by Wright to the Plaquemines LNG export facility.
Venture Global stock has fallen 53.3% since its listing.
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