Venture Global (NYSE:VG) said Thursday it plans an $18B brownfield expansion of its Plaquemines LNG plant in Louisiana to 45M metric tons/year, up from 27M tons/year currently. The planned expansion will consist of 24 trains,

Venture Global said on Thursday it would expand the total production capacity of its Plaquemines LNG plant in Louisiana to 45 million tonnes per annum (mtpa), up from the current 27 mtpa, with an additional investment of $18 billion.

Executives also have raised their cost estimate for the LNG plant’s ongoing construction by about $2 billion and issued 2025 forecasts below analysts’ expectations.

Venture Global said on Thursday it expects the project cost for its Plaquemines LNG plant in Louisiana to be around $2 billion higher than its previous forecast due to inflation and other factors. Shares of the company fell 19.

Looking to 2025, Venture Global said that it expects to export between 140 and 148 LNG cargoes from Calcasieu Pass and between 219 and 239 cargos from its Plaquemines project, which commenced first exports at the end of 2024. Last year, the company sold 141 LNG cargoes from Calcasieu Pass, down from 143 in 2023

Venture Global (NYSE:VG) -23.3% to an all-time low in Thursday's trading after missing Q4 GAAP earnings estimates and saying it expects the project cost for its Plaquemines liquefied natural gas plant in Louisiana to come in ~$2B above its previous forecast due to inflation and other factors.