Core Viewpoint - Venture Global forecasts lower adjusted core profit for 2026 due to the impact of Winter Storm Fern and margin compression in the first quarter [1] Company Performance - Venture Global's revenue nearly tripled to $4.4 billion in Q4, with net income rising 23% to $1.07 billion, driven by higher LNG sales volumes from the Plaquemines Project [1] - The company expects 2026 adjusted core earnings to be between $5.20 billion and $5.80 billion, below analysts' average estimate of $6.03 billion [1] Industry Context - U.S. LNG exports fell to 11.3 million metric tonnes in January from 11.5 million metric tonnes in December due to winter weather affecting production [1] - The U.S. became the first country to export over 100 million metric tonnes of LNG in a single year in 2025, aided by new plant startups [1] - The trend of selling LNG under long-term contracts is squeezing margins, limiting companies' ability to benefit from short-term price increases [1] Future Contracts and Expectations - Venture Global signed a five-year agreement with Trafigura to supply approximately 0.5 million metric tonnes per annum of LNG starting in 2026, increasing total contracted quantities to nearly 9.75 million metric tonnes per annum [1] - The company anticipates exporting 145 to 156 cargoes from the Calcasieu Project and 341 to 371 cargoes from the Plaquemines Project in 2026 [1]