Why Venture Global, Inc. (VG) Skyrocketed On Tuesday

We recently published a list of 10 Stocks Leaving Wall Street in The Dust. In this article, we are going to take a look at where Venture Global, Inc. (NYSE:VG) stands against other Tuesday’s best performers.

Venture Global soared by 21.12 percent on Tuesday to finish at $14.28 apiece as investor sentiment was boosted by the start of the construction of its $28 billion liquefied natural gas (LNG) facility in Louisiana.

Called the CP2 LNG, the facility will sit on a 1,150-acre site in Cameron Parish, and is expected to be able to export at least 20 million tons of LNG per annum and employ 10,500 jobs, of which 7,500 will be generated during the construction, and 3,000 upon commercial operations.

It is also expected to pay more than $4 billion in local property taxes once the LNG comes into full swing.

Venture Global, Inc. (NYSE:VG) said it targets to kick off commercial operations in 2027.

The facility is expected to make Venture Global, Inc. (NYSE:VG) the largest LNG exporter in the US, and the second largest in the world.

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Disclosure: None. This article is originally published at Insider Monkey.