Demand for Venture Global's liquified natural gas is surging.
With supplies limited, the LNG exporter is securing contracts at sharply higher prices.
Shares of Venture Global (NYSE: VG) climbed on Tuesday after the energy exporter lifted its full-year earnings forecast.
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Attacks on Qatar's production and export facilities and other critical infrastructure in the Middle East has slashed global liquefied natural gas (LNG) supplies by roughly 20%, according to the International Energy Agency.
The crisis is driving governments in Europe and Asia to turn to U.S. producers to make up for the shortfall.
Venture Global is benefiting from this trend. The U.S. LNG exporter's revenue surged 59% year over year to $4.6 billion in the first quarter.
Venture Global exported 130 cargos and sold 481 trillion British thermal units (TBtu) of LNG, representing gains of 106% and 111%, respectively.
"The first quarter of 2026 was a dynamic, and at times volatile, period for the global LNG market, and we are proud that our company has played a critical role in helping maintain supply stability," CEO Mike Sabel said.
All told, the company's net income jumped 23% to $488 million.
Management boosted its full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) forecast to $8.2 billion to $8.5 billion in 2026, up sharply from a prior target of $5.2 billion to $5.8 billion.
Venture Global now expects to export 494 to 523 cargos, with a weighted-average liquefaction fee of $9.50-$10.50 per million British thermal units for its remaining unsold cargos, up from $5.00-$6.00 back in March.
"Venture Global continues to deliver reliable U.S. energy to our customers, while generating strong financial results for our shareholders," Sabel said.
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.