Venture Global, Inc. 8-K

What Happened

• Venture Global (VG) filed an 8-K on January 12, 2026 announcing results for the quarter ended December 31, 2025. The company exported 128 LNG cargos in Q4 2025, totaling 478.3 TBtu of LNG, and reported an implied weighted average fixed liquefaction fee of $5.15 per MMBtu for the quarter. Net income and full quarterly financials will be released with the company’s earnings announcement.
• The company said volumes and pricing were affected by changes in Henry Hub and international LNG prices and by limited vessel availability in the Atlantic basin. VG pulled forward scheduled maintenance late in the quarter and used owned and chartered vessels to partially mitigate tight shipping markets; forward shipping/pricing indicators for Feb–Mar 2026 have improved versus year-end.

Key Details

• Total Q4 2025 exports: 128 cargos; total sales: 478.3 TBtu; implied avg. fixed liquefaction fee: $5.15/MMBtu.
• By facility: Calcasieu Pass exported 38 cargos (140.1 TBtu) with an implied fee of $2.01/MMBtu (inclusive of estimated arbitration reserves); Plaquemines exported 90 cargos (338.2 TBtu) with an implied fee of $6.02/MMBtu.
• One DES cargo exported from Plaquemines on an owned/chartered vessel will be recognized as revenue in the following quarter (timing due to voyage/unloading).
• VG narrowed full-year 2025 Consolidated Adjusted EBITDA guidance to $6.180 billion–$6.240 billion and did not provide a GAAP reconciliation of that forward-looking non‑GAAP measure.

Why It Matters

• For investors, these operating metrics give early visibility into quarterly shipment volumes, realized liquefaction pricing and near-term revenue timing drivers ahead of formal earnings. The tightened EBITDA range signals management’s updated view of full‑year profitability after Q4 operational and market impacts (notably shipping constraints and price moves). Note that final GAAP results, including net income and cash flow, will be disclosed with the company’s upcoming earnings release.