Venture Global falls on higher project expenses and lower revenue

Shares of LNG Producer Venture Global VG.N down 17% at $11.80 premarket

VG reports a 6.6% decline in Q4 revenue to $1.52 billion from a year earlier, hurt by a 13% fall in volumes of LNG sold

Co expects the project cost for its Plaquemines LNG plant in Louisiana to be around $2 bln higher than previous expectations due to inflation and other factors

VG expects the plant to now cost between $23.3 billion and $23.8 billion, compared to a range of $21 billion to $22 billion earlier

Adds that costs to complete the project may increase further