Venture Global, Inc. — Form 8-K Summary
Reporting period: Quarter ended September 30, 2026. The October 7, 2026 filing reports selected operating metrics ahead of the company’s full third-quarter earnings release.
Operating and financial metrics
| Metric | Third quarter 2026 |
|---|---|
| LNG sold and recognized in revenue | 465.8 TBtu |
| Implied weighted average fixed liquefaction fee | $6.79 per MMBtu |
| LNG cargos exported | 124 |
| Calcasieu Pass: LNG sold and recognized | 137.7 TBtu; 37 cargos exported |
| Plaquemines: LNG sold and recognized | 328.1 TBtu; 87 cargos exported |
The fixed liquefaction fee excludes the impact of gas supply basis. The filing does not provide third-quarter net income, total revenue, cash flow, margins, debt, or liquidity figures; those results were to be announced with the full earnings release.
Revenue timing and unusual items
Revenue is generally recognized when control of LNG transfers to the customer. For FOB cargos, recognition generally occurs when the vessel is loaded and unmoors; for DES, DPU, and other delivered cargos, recognition generally occurs upon delivery. Five DES cargos totaling 20.4 TBtu were exported during the quarter but are expected to be recognized as revenue in the following quarter because delivery and unloading occur later.
Comparisons, outlook, and risks
The filing provides no prior-period comparison or specific numerical guidance. It cautions that cargo volumes and the implied fee are only selected operating measures and should not be relied on as sole indicators of quarterly financial results. The company identifies risks and uncertainties related to revenue recognition, project development, construction, commissioning and completion, cargo sales, project costs and schedules, and growth strategies. Forward-looking statements are based on assumptions as of the filing date, and the company disclaims an obligation to update them. The filing also says it cannot reconcile projected Consolidated Adjusted EBITDA to GAAP net income because certain adjustments are difficult to forecast; no specific projection is stated in the supplied text.
Investor verification points
- Review the full third-quarter earnings release and financial statements for net income, revenue, cash flow, margins, debt, and liquidity.
- Verify the timing and financial effect of the five DES cargos expected to be recognized in the following quarter.
- Assess how gas supply basis and other factors affect realized economics beyond the stated fixed liquefaction fee.
- Compare cargo volumes, recognized LNG sales, and fees with prior periods when comparable data becomes available.