LNG firm Venture Global forecasts full-year core profit above expectations

May 13 (Reuters) - Venture Global VG.N forecast higher-than-expected current-year core profit on Tuesday, on the back of higher LNG demand and shipments from its projects.

The U.S. became the world's biggest LNG supplier in 2023, surpassing Australia and Qatar, as surging global prices fed demand for more exports due in part to supply disruptions and sanctions linked to Russia's 2022 invasion of Ukraine.

The firm expects to export 145 to 150 cargos from the Calcasieu project and 222 to 239 cargos from the Plaquemines project this year. Its previous forecasts were 140 to 148 cargos from the Calcasieu project and 219 to 239 cargos from the Plaquemines project this year.

While the company lowered its current year adjusted core profit forecast to be between $6.4 billion and $6.8 billion from its previous expectation of between $6.8 billion and $7.4 billion, its midpoint was still above Wall Street expectations of $6.54 billion according to data compiled by LSEG.