Rewrites opening paragraph, adds background and context in paragraphs 4-9
By Curtis Williams
HOUSTON, July 7 (Reuters) - Venture Global VG.N exported more liquefied natural gas $(LNG)$ cargoes from its Plaquemines export facility in Louisiana and earned more than double in fees compared with its other U.S. plant, a company filing showed on Monday.
The LNG company exported 51 cargoes from Plaquemines at an average liquefaction fee of $7.09 per million British thermal units (mmBtu) for the second quarter of 2025, the SEC filing showed.
During the same period, it exported 38 LNG cargoes from its Calcasieu Pass facility at an average liquefaction fee of $2.66 per mmBtu.
The lower second-quarter liquefaction fees at Calcasieu Pass come as Venture Global started to sell LNG under long-term contracts there, rather than on the spot market. The Plaquemines facility which is being commissioned while parts remain under construction, has been able to sell on the spot market for higher prices during this period.
In just three years Venture Global has become the second-largest U.S. LNG producer, playing a key role in keeping the country as the world's top LNG exporter.
The company earned significant profit by quickly building its plants combined with a long commissioning period, allowing it to sell LNG on the spot market at higher prices than it can get from long-term customers.
In April the company began commercial operations at its first plant, Calcasieu Pass, three years after it started selling the superchilled gas on the spot market.
This led to contract arbitration cases brought by some of the world's top oil and gas producers, including BP BP.L, Shell SHEL.L, Edison EDNn.MI, Orlen PKN.WA and Repsol REP.MC, which accused Venture Global of profiting from the sale of LNG on the spot market while not providing them with their contracted cargoes from Calcasieu Pass.
Venture Global denied the claim, saying it delayed moving to commercial operations because of a faulty electric system that did not allow the plant to operate optimally.
(Reporting by Curtis Williams in Houston; Editing by Leslie Adler and Stephen Coates)
((Curtis.Williams@thomsonreuters.com; +1 346 324 7560;))