- Venture Global issued a Full Notice to Proceed, moving the major LNG project from planning into full-scale development.
- The project raised $8.6 billion for Phase 2, taking total CP2 funding to $20.7 billion, marking one of the largest U.S. project financings.
- A recent U.S. approval lifted Plaquemines' export capacity to 3.85 billion cubic feet per day.
Shares of Venture Global, Inc. (VG) hit a five-month high on Wednesday after the company moved forward with the next phase of its flagship LNG project, marking a key step in expanding its export capacity.
VG stock posted its second straight session of gains, jumping 14% on Wednesday to end at $14.85, its best session so far this month. Shares additionally gained another 4% in extended trading.
The move also comes amid escalating geopolitical tensions after Iran struck a major LNG facility in Qatar, disrupting energy flows and driving a surge in oil and natural gas prices, boosting the outlook for U.S. LNG exporters.
Key LNG Project Moves From Planning To Execution
The move comes after engineering partner Worley said it received a Full Notice to Proceed from Venture Global for Phase 2 of the CP2 LNG project, allowing full execution under the engineering, procurement and construction contract.
The notice follows Venture Global’s final investment decision last week and transitions the project from planning into full-scale development. Worley had previously been engaged under a limited notice, while construction for Phase 1 began in June 2025.
CP2 is a major liquefied natural gas export facility located in Cameron Parish, Louisiana, and is seen as a key component of Venture Global’s long-term expansion strategy.
“This is one of the most significant and strategically important LNG projects globally and we’re proud to work with Venture Global as their project delivery partner,” Worley CEO Chris Ashton said in a statement.
Strong Lender Demand Backs CP2 Growth
The latest execution step builds on momentum from last week, when Venture Global announced a final investment decision for Phase 2 along with $8.6 billion in project financing.
Combined with Phase 1 funding, total financing for CP2 has reached $20.7 billion, making it one of the largest standalone project financings in the U.S. bank market. The transaction drew strong interest from global lenders, with commitments exceeding $19 billion for the second phase alone.
Venture Global CEO Mike Sabel said the milestone positions the company to become the largest U.S. LNG exporter once CP2 is fully operational. The project is expected to have peak production capacity of 29 million tonnes per annum and has already secured long-term contracts for nearly all of its output.
Venture Global Expands Footprint Across Global LNG Markets
The CP2 project is part of Venture Global’s broader LNG portfolio across Louisiana, where the company has built a vertically integrated model spanning production, transport and export.
Across its projects, Venture Global now has more than 49 million tonnes per annum of contracted capacity, with customers primarily in Europe and Asia, underscoring the project’s importance to global energy supply and security.
Adding to the positive backdrop, the U.S. Department of Energy over the weekend approved a 13% increase in export capacity at Venture Global’s Plaquemines LNG terminal in Louisiana. The authorization allows additional shipments of up to 0.45 billion cubic feet per day to non-free trade agreement countries, bringing the facility's total export capacity to 3.85 billion cubic feet per day.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment for VG moved to ‘neutral’ from the ‘bullish’ zone over the past day amid nearly a 300% surge in message volumes over the same period.
One user said, “VG is in a much better place now with business plan and execution. Price will catch up eventually as things keep happening”
Another user said, “It is still early and $VG will take the crown as the biggest exporter of liquified natural gas.”
VG stock has more than doubled so far this year.
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