4.3 Billion Disappeared in a Day… What Adversities Hit LNG Startups?

On the New York Stock Exchange, shares of Venture Global, Inc. (VG) plunged 8.01% on the 2nd, closing at $9.01. Trading volume reached about 5.15 million shares, and the company’s market capitalization fell to roughly $4.3 billion (about KRW 5.8 trillion), wiping out nearly $320 million (around KRW 430 billion) in a single day.

Recently, Wells Fargo maintained its “Equal Weight” rating on Venture Global but lowered its price target from $11 to $8, pointing to rising operating costs and aggressive capacity expansion as key headwinds. The company is also facing multiple class-action lawsuits filed on behalf of investors who suffered losses relative to the IPO price, raising ongoing legal risks over the adequacy of its offering disclosures and its credibility with major customers.

Venture Global is an LNG specialist that develops liquefied natural gas export terminals in Louisiana and pursues growth through long-term supply contracts. Since its January 2025 IPO at $25 per share, the company has encountered production delays and disputes with large clients such as BP, Shell, and TotalEnergies, leading some analysts to say that its aggressive growth story has instead heightened its share-price volatility.