Venture Global Inc. (VG) announced Thursday that it has signed agreements with GE Vernova Inc. (GEV) and Baker Hughes Company (BKR) to expand its private power network and support future AI data center development.

The agreements cover up to 16 new power generation units, each with 720 megawatts of capacity, along with related electrical equipment.

The expansion could support up to 10 gigawatts (GW) of computing capacity at sites owned or controlled by Venture Global by the end of 2034.

Venture Global Targets AI Data Center Power Demand

The company plans to expand its grid-independent power network, which currently includes about 4.5 GW of gas-fired generation capacity operating, under construction or on order.

The proposed facilities would generate electricity on-site without relying on public power grids.

Venture Global said its approach could support large-scale AI data centers without increasing demand on public electricity or water utilities.

CEO Mike Sabel said the initiative builds on the company's experience developing private power infrastructure for its liquefied natural gas (LNG) operations.

He added that combining dedicated power generation, natural gas supplies, land and closed-loop water systems could help address infrastructure bottlenecks slowing AI data center development.

Phased Expansion Through 2034

The agreements establish a framework for Venture Global to reserve manufacturing capacity under future purchase commitments.

The company expects to place its first power generation unit order by the end of 2026.

However, further expansion will depend on customer commitments, market demand and commercial conditions.

Venture Global also plans to file its first permit applications this week and coordinate with regulators on additional approvals.

LNG Operations Remain a Priority

Venture Global emphasized that its LNG operations remain its primary business.

Any third-party data center development would operate separately from its LNG business and would not affect existing LNG sales agreements or other contractual commitments.

The company has more than 100 million metric tons per year of LNG capacity in production, construction or development.

VG Price Action: Venture Global shares were down 5.88% at $12.49 at the time of publication on Thursday, according to market data.