QatarEnergy Negotiates LNG Deal With Venture Global

QatarEnergy is in advanced negotiations with Venture Global to secure a long-term liquefied natural gas supply deal for at least 3 million tons per year from the CP2 plant in Louisiana. The state-backed energy company is seeking these imports to offset a 17% reduction in export capacity at the Ras Laffan complex, which was damaged by Iranian missile strikes in March. The capacity loss has forced the former top exporter to become a buyer to fulfill its existing customer obligations.

Simultaneously, Venture Global is expanding into the AI infrastructure market with a proposed $160 billion project to develop up to 10 GW of compute power by 2034. The company signed frame agreements with GE Vernova and Baker Hughes to utilize combined-cycle gas turbines to power data centers behind the meter at its Louisiana sites.

While the deal with QatarEnergy serves as a near-term revenue driver, investors have expressed caution regarding the AI power expansion. The project is capital-intensive and is not expected to deploy capacity until late 2028.