Venture Global posted a third-quarter profit on Monday, compared to a year-ago loss, helped by increased output from its Plaquemines liquefied natural gas plant in Louisiana and strong LNG demand.
Shares of Venture Global were up 6.4% in premarket trade.
The U.S. is the world’s largest exporter of LNG with a record 10.1 million metric tons (MT) of LNG in October, according to preliminary data from financial firm LSEG.
Venture Global is the second largest exporter of the superchill gas in the U.S. and last month was responsible for more than 30% of the country’s total exports, according to LSEG data.
Commercial activity in the sector gained further momentum after U.S. President Donald Trump lifted a moratorium on new LNG export permits after taking office in January.
Venture Global’s revenue was at $3.33 billion in the reported quarter, compared with $926 million from a year earlier.
The company reported net income attributable to common stockholders of $429 million for the quarter ended September 30, compared with a loss of $347 million a year earlier.
(Reporting by Tanay Dhumal in Bengaluru; Editing by Shailesh Kuber)