Here's Why Venture Global Stock Soared 24.3% This Week

Shares of liquified natural gas (LNG) company Venture Global (NYSE: VG) soared by 24.3% this week. This week's move comes in response to an excellent set of first-quarter earnings released on Tuesday, and the announcement of separate five-year LNG supply deals with TotalEnergies and Vitol. According to the International Energy Agency (IEA), about 20% of global LNG trade passes through the Strait of Hormuz, and its closure is positively affecting companies that produce and transport LNG in the West, with Venture Global being a prime example. The company is benefiting from higher LNG prices in its uncontracted LNG streams due to the lack of supply through the Strait, and it's also able to sign long-term contracts because energy companies need to secure long-term LNG supplies.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool