By the beginning of this year, the world’s leading gas exporter, the United States, grew the capacity to ship nearly 100 million metric tons of liquefied natural gas per year—incredibly rapid growth for a U.S. industry that only started exporting a decade ago.
By 2030, a little-known startup, Venture Global, is projected to exceed that volume all by itself. It only began shipping three years ago. The oil and gas outsiders at Venture Global are doing so by upending project design norms, upsetting the Big Oil hierarchy, and dominating the nascent gas export industry.
The business of exporting natural gas—it needs to be liquefied to be shipped overseas in tankers—has taken off thanks to the nation’s ongoing shale gas boom, the world’s growing power needs, and the desire to rely less on Russian gas. Liquefied natural gas (LNG) is the biggest sector of U.S. oil and gas growth, responding to more gas demand than even the burgeoning AI data center construction surge. Just from 2024 to 2028, North America’s LNG export capacity should more than double, according to the U.S. Department of Energy.
The pace of Venture Global’s growth is staggering. Its speed has shocked virtually every industry analyst. It has no plans to slow down through the early 2030s. Even cofounder and CEO Mike Sabel is surprised by what he has built: The company has exceeded his expectations on timelines and production capacity. Not bad for a company founded by leaders with only ancillary energy experience.
