LNG exporter Venture Global signs frame deals with GE Vernova and Baker Hughes for up to 16 gas power units to back 10 GW of AI computing, about $17.2bn if every order goes ahead

Venture Global, which exports liquefied natural gas, said on 15 October that it had signed frame agreements with GE Vernova and Baker Hughes Energy Services for up to 16 new 720 MW “power island” units, with grid equipment. It says they give it a path to up to 10GW of compute capacity at its own sites by the end of 2034, depending on customer demand.

The company says it already has six power islands ordered, in construction or operating, about 4.5 gigawatts of gas-fired generation that does not depend on the grid. It expects to place its first power island purchase order under the new agreements by the end of 2026.

The release gives no dollar figure; the company's SEC filing does. It says that if Venture Global elects to proceed with all purchase orders, the aggregate payable “would be approximately $17.2 billion”, subject to adjustment and including reservation fees. A separate reservation agreement with GE Vernova covers eight of the remaining 15 power islands.

The filing also says that, apart from reservation fees, neither Venture Global nor Baker Hughes or GE Vernova has any binding obligation until definitive reservation agreements are signed, and that Venture Global may have to pay a termination fee. The plan is one more energy company betting that AI data centres will pay for power built beside them rather than wait for the grid.

• Claimed Venture Global says the frame agreements cover up to 16 new 720 MW power islands and a path to up to 10GW of compute capacity by the end of 2034. Venture Global
• Confirmed If it proceeds with all purchase orders, the aggregate payable would be approximately $17.2 billion, subject to adjustment. Venture Global 8-K, SEC
• Confirmed Apart from reservation fees, no party has binding obligations until definitive reservation agreements are signed. Venture Global 8-K, SEC