Venture Global shares jumped 11.9% following an upbeat quarter marked by a significant upward revision in EBITDA guidance and strong commercial momentum, which reassured investors on growth and contract backlog.

• EBITDA guidance for 2026 was raised sharply from $5.2–5.8 billion to $8.2–8.5 billion, reflecting improved liquefaction fee assumptions.
• Long-term contracts now cover 52 MTPA, underpinning approximately $137 billion in revenue backlog and up from 69% contracted in early 2021 to 84% for 2026.
• Operational strength demonstrated with a new first-quarter record of 130 cargoes exported and over 150 contracted cargoes delivered on schedule at Calcasieu Pass.
• Progress on CP2 Phase 2 remains rapid, with nearly all perimeter wall completed and key liquefaction trains and turbines installed, supporting expectations for fastest-to-market LNG startup.
• Capital structure improvements included refinancing of higher-interest preferred securities with more tax-efficient term loan B facilities and issuance of bonds to retire construction debt.