Venture Global has reported a 69% increase in its liquefaction fees for the second quarter, reaching $6.45 per million British thermal units (mmBtu), up from $3.82/mmBtu in the first quarter due to war-related disruptions in LNG flows in the Middle East.
In a regulatory filing cited by Reuters, the U.S. LNG major stated that it generated revenue from sales totaling 466.4 trillion thermal units in the second quarter, down from 480.8 trillion in the first quarter.
During the second quarter, Venture Global's Calcasieu Pass LNG plant exported 37 liquefied gas cargoes, while the company's Plaquemines plant saw exports of 90 cargoes. These figures compare to 38 cargoes for Calcasieu Pass in the first quarter and 92 cargoes for Plaquemines.
Calcasieu Pass, Venture Global's first LNG export facility, began production in 2022 and has been central to the company's rapid rise as a major U.S. exporter. The company now boasts over 100 million tonnes per annum of LNG capacity across projects in operation, construction, or development.
Venture Global has faced lawsuits from Big Oil majors, which had long-term contracts with the company but did not receive any volumes supplied under these contracts because Venture Global sold all its LNG on the spot market.
