Venture Global aims to dominate LNG exports and power data centers

By the end of next year, Venture Global intends to surpass Cheniere Energy and QatarEnergy to become the world’s leading LNG exporter by volume. This ambition remains on track even considering potential disruptions from the ongoing Iran war and Qatar’s ability to repair damages.

Looking ahead, Venture Global is also targeting a significant expansion into the data center sector. The company plans to leverage excess land and gas-fired power at its campuses to create hyperscaler data center hubs, initially offering 5 gigawatts of power by 2031 – enough to power nearly 4 million homes – and doubling that capacity to 10 gigawatts by 2034, Sabel stated.

“We believe we have built the largest electric industrial grid in the world, and it’s on an island,” Sabel told Fortune. “We can just expand what we already have, and we can build data center infrastructure and provide exactly what the market needs, which is total island mode. We’re off the water utility, and we’re off the grid, so we’re don’t impact consumers at all.”

Recently ranked No. 328 on the Fortune 500, Venture Global is expanding its partnerships with GE Vernova and Baker Hughes to secure the necessary gas-fired turbines and transformer equipment.

VG currently operates two large LNG export hubs: Calcasieu Pass LNG and Plaquemines LNG, both located in Louisiana. CP2 is situated next to Calcasieu Pass. Sabel described each campus as a “turnkey AI utility.”

“We have a huge footprint. It’s a potential mega scale of infrastructure that we hope the customers will find attractive,” Sabel said.

Venture Global’s approach involves smaller, easily replicated facilities and long-term contracts, allowing for quicker construction and higher profits through spot market sales before full contract implementation. Plaquemines LNG, for example, has shipped cargoes during the Iran war, partially compensating for Qatar’s supply shortages, with commercial contracts only beginning in October.

The company projects exceeding 100 million metric tons of LNG export capacity annually by 2030, a significant increase compared to the U.S.’s roughly 100 million tons of capacity at the start of 2025.

Venture Global reported a net income of $2.55 billion for the third quarter, a substantial increase from $429 million in the same period last year. The company’s stock has already seen a 73% increase this year prior to the earnings release.