Venture Global Enters Power And Grid Frame Agreements With GE Vernova And Baker Hughes Energy Services For Up To Sixteen 720 MW Power Island Units And Associated Power Transformer Equipment

Deal to support the continued expansion of its existing behind-the-meter, Island-Mode industrial power network that is not reliant on the grid. The agreements will enable continued growth in Venture Global’s LNG business and provide a pathway to make up to 10 GW of new compute capacity available over time – at sites owned or controlled by the Company - for potential adjacent infrastructure and data centers. With Island Mode power generated using this incremental dedicated on-site infrastructure, the expansion would place no additional demand on the public electric grid or public water utilities and, therefore, have no added costs to local consumers. This new capacity would build on the company’s 4.5 gigawatts of Island Mode modular, gas-fired generation that has and will continue to supply power to our facilities.

The company remains fully committed to our growing, robust LNG business, customers and our existing contractual commitments. Any potential third-party development for Island Mode power capacity would be separate from and complementary to Venture Global’s existing LNG operations and would not impact the Company’s LNG sales agreements or other existing commercial commitments. The production and delivery of low cost, clean American LNG for the next several decades remains our key strategic objective.

Creating a Flexible Framework for Future Behind-the-Meter Expansion

The agreements provide that the Company may enter into certain definitive reservation agreements, which contain agreed pricing and delivery terms, to reserve manufacturing capability over time. This framework preserves Venture Global’s flexibility on the timing and scope of future deployments. Venture Global currently expects to place its first power island purchase order by the end of 2026.

Venture Global expects to build additional capacity in stages as customer commitments and other commercial arrangements are established, and the Company determines that additional deployment is warranted. Additional power islands and related electrical equipment would be ordered through future definitive reservation agreements or purchase orders based on the Company’s operational and commercial needs. The 720 MW power island units would consist of combined cycle gas turbines and certain related equipment, utilizing configurations consistent with Venture Global’s existing power infrastructure.

Building on its Existing Differentiated Power Platform

Over the past 15 years, Venture Global has grown into one of the world’s largest LNG producers and exporters. As part of that development, the Company has built one of the largest private and self-sufficient industrial power grids in the world with 6 power islands ordered, in construction, or operating across its LNG facilities. This equates to approximately 4.5 gigawatts of modular, gas-fired generation that has and will supply power to its own facilities entirely behind the meter and off the grid.

With the up to 16 additional power island units contemplated by the new agreements, the Company expects to have the potential to continue supporting its growing LNG business and separately creating a substantial foundation for its AI utility. Subject to customer commitments, market demand, and other commercial considerations, the Company anticipates that it will be able to develop up to 10 GW of compute capacity by the end of 2034.

Venture Global will work with federal, state, and local regulators on any additional permitting requirements. This week, the company will file its first permit applications to begin this process.