Updated: Venture Global raises profit forecast, intensifies push into the AI data center market

Stock price data added in the 2nd paragraph, with an accompanying chart

Reuters, November 10 - Venture Global (VG.N) raised its full-year profit forecast on Tuesday after the company’s third-quarter results beat Wall Street expectations. The US liquefied natural gas exporter is seeking to expand its power and infrastructure supply to the booming field of artificial intelligence data centers.

The company’s shares rose 8.2% in premarket trading.

The surging power demand from AI data centers is putting pressure on existing power grids, creating opportunities for energy companies able to provide dedicated electrical infrastructure.

In October, the company, headquartered in Arlington, Virginia, signed framework agreements with GE Vernova GEV.N and Baker Hughes BKR.O (link), planning to supply up to 16 “power island” units with a total installed capacity of about 11.5 gigawatts, as well as related transformers and grid equipment to support the construction of data centers.

These agreements are based on the company’s existing asset base, including approximately 15,000 acres of owned land, about 13 billion cubic feet per day of pipeline throughput capacity, and approximately 4 gigawatts of existing power infrastructure.

“Venture Global can provide island-mode power supply, land, closed-loop water circulation systems, US domestic natural gas supply, in-house EPC services, and proven execution capabilities in response to market demand, to support the US’s computing capacity buildout in the AI race,” said CEO Mike Sabel.

The company expects to begin providing computing capacity by the end of 2028, reaching about 5 gigawatts by the end of 2031. Its bases of operation in Cameron Parish and Plaquemines Parish, Louisiana, will not rely on public power or water systems.

Venture Global also moved forward the timeline for the first LNG production from its CP2 project to July 2027, which is 24 months after the final investment decision for phase one of the project.

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According to data compiled by London Stock Exchange Group (LSEG), the company now expects 2026 adjusted core earnings of between $10 billion and $10.3 billion, up from its previous forecast of $8.7 billion to $9.1 billion, and above analysts’ expectations of $9.2 billion.

Venture Global’s adjusted core profit for the third quarter was $2.6 billion, exceeding the expected $2.5 billion.

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