Oil/Gas Transmission

Cheniere Energy Inc. vs Venture Global Inc.

WatchlistLNG / VGPrices through Oct 22, 2026

Why these are rivals: #1 and #2 by market value ($59B vs $32B) in Nasdaq's "Oil/Gas Transmission" industry; SEC SIC 4924 / 4924 (same major group); #1 and #2 by market value ($59B vs $32B) with SEC SIC 4924 (Natural Gas Distribution).

Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.

  • Co-movement: daily return correlation, 252 sessions: 0.59 (needs >= 0.60)
  • Mean reversion: ADF t-statistic of the spread: -1.66 (needs <= -2.873 (5% critical value))
Business leadership

LNG is the larger business

Annual revenue reported to the SEC. Scale, not market share.

YearLNGVGLarger
2025$20.0B$13.8BLNG
2024$15.7B$5.0BLNG
2023$20.4B$7.9BLNG
2022$33.4B--
2021$15.9B--
2020$9.4B--

LNG led in every year with figures for both. Market value: LNG $59.2B, VG $32.0B.

Stock leadership

Neither is clearly ahead

Measured against the pair's own last 252 trading days.

The gap is 0.18 standard deviations, close to the usual relationship. 1 lead switch in the last year.

Price change3 mo6 mo12 mo
LNG+6.4%+11.6%+29.2%
VG-10.5%-1.1%+33.3%
Relationship

Not a measured twin today

Only these tests can make a pair tradable on paper.

Pass
Aligned sessions: 439 (needs >= 254)
Fail
Co-movement: daily return correlation, 252 sessions: 0.59 (needs >= 0.60)
Fail
Mean reversion: ADF t-statistic of the spread: -1.67 (needs <= -2.873 (5% critical value))
Pass
Speed: half-life of the spread, sessions: 22.40 (needs <= 63)
Data
Both stocks current
The twins over two years

Prices side by side, and the gap between them

LNG Cheniere Energy Inc. VG Venture Global Inc.Price index, 100 = 2025-01-24. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
50100Jan 2025Dec 2025Oct 2026LNG 124VG 53
Spread z-score: LNG relative to VG, against the 252 sessions before each day. Above 0: LNG ahead; below 0: VG ahead. Lines at +/-2 (idea) and +/-4 (stop).
-4stop-2idea0+2idea+4stopJan 2025Dec 2025Oct 2026
Data table (439 sessions)
DateLNG indexVG indexzAhead
2026-10-22123.7953.38+0.18near the usual relationship
2026-10-21122.5853.54+0.10near the usual relationship
2026-10-20122.2152.54+0.20near the usual relationship
2026-10-19123.6153.38+0.17near the usual relationship
2026-10-16124.8353.00+0.27near the usual relationship
2026-10-15120.4052.08+0.15near the usual relationship
2026-10-14120.6355.29-0.22near the usual relationship
2026-10-13123.7557.67-0.33near the usual relationship
2026-10-12121.8454.71-0.09near the usual relationship
2026-10-09119.9854.83-0.20near the usual relationship
2026-10-08119.8555.38-0.26near the usual relationship
2026-10-07117.4054.38-0.27near the usual relationship
2026-10-06118.7256.29-0.41near the usual relationship
2026-10-05118.5856.04-0.39near the usual relationship
2026-10-02116.4354.71-0.34near the usual relationship
2026-10-01117.4853.21-0.11near the usual relationship
2026-09-30116.0352.67-0.11near the usual relationship
2026-09-29115.2852.25-0.10near the usual relationship
2026-09-28116.3053.71-0.20near the usual relationship
2026-09-25115.8252.58-0.09near the usual relationship
2026-09-24119.1655.13-0.20near the usual relationship
2026-09-23118.0155.29-0.27near the usual relationship
2026-09-22117.7353.79-0.11near the usual relationship
2026-09-21118.6056.92-0.40near the usual relationship
2026-09-18115.7358.42-0.69VG ahead
2026-09-17116.3860.08-0.82VG ahead
2026-09-16115.4861.04-0.95VG ahead
2026-09-15116.8763.71-1.13VG ahead
2026-09-14118.3063.63-1.05VG ahead
2026-09-11120.0565.83-1.16VG ahead
2026-09-10119.8364.58-1.06VG ahead
2026-09-09119.0163.71-1.01VG ahead
2026-09-08119.0561.38-0.80VG ahead
2026-09-04125.9460.08-0.34near the usual relationship
2026-09-03125.4460.33-0.39near the usual relationship
2026-09-02127.6061.38-0.39near the usual relationship
2026-09-01126.8662.96-0.57VG ahead
2026-08-31125.8061.00-0.43near the usual relationship
2026-08-28121.7759.08-0.43near the usual relationship
2026-08-27121.1160.33-0.58VG ahead
2026-08-26122.5259.58-0.44near the usual relationship
2026-08-25120.2458.63-0.45near the usual relationship
2026-08-24121.1059.96-0.54VG ahead
2026-08-21119.6959.21-0.54VG ahead
2026-08-20120.4059.54-0.53VG ahead
2026-08-19118.3057.46-0.43near the usual relationship
2026-08-18118.0859.17-0.60VG ahead
2026-08-17115.1357.29-0.56VG ahead
2026-08-14117.1658.29-0.55VG ahead
2026-08-13114.9356.42-0.48near the usual relationship
2026-08-12115.6357.17-0.52VG ahead
2026-08-11114.4855.08-0.36near the usual relationship
2026-08-10114.5959.42-0.78VG ahead
2026-08-07110.4755.25-0.57VG ahead
2026-08-06114.6356.58-0.49near the usual relationship
2026-08-05109.8851.79-0.23near the usual relationship
2026-08-04110.9753.50-0.34near the usual relationship
2026-08-03111.3154.50-0.42near the usual relationship
2026-07-31113.6855.75-0.42near the usual relationship
2026-07-30111.3055.17-0.47near the usual relationship
2026-07-29111.5454.38-0.37near the usual relationship
2026-07-28108.7650.71-0.12near the usual relationship
2026-07-27110.3653.42-0.32near the usual relationship
2026-07-24116.3359.63-0.62VG ahead
2026-07-23117.3163.17-0.87VG ahead
2026-07-22115.3361.75-0.83VG ahead
2026-07-21113.2558.58-0.64VG ahead
2026-07-20114.2759.54-0.67VG ahead
2026-07-17113.2657.50-0.53VG ahead
2026-07-16111.7152.79-0.15near the usual relationship
2026-07-15110.3453.79-0.30near the usual relationship
2026-07-14114.3155.13-0.23near the usual relationship
2026-07-13113.5655.67-0.31near the usual relationship
2026-07-10111.5551.00+0.05near the usual relationship
2026-07-09112.6952.21-0.01near the usual relationship
2026-07-08112.5451.58+0.05near the usual relationship
2026-07-07109.9848.29+0.27near the usual relationship
2026-07-06106.1445.21+0.42near the usual relationship
2026-07-02106.0946.38+0.30near the usual relationship
2026-07-01105.2045.96+0.31near the usual relationship
2026-06-30103.0846.38+0.17near the usual relationship
2026-06-29105.2246.46+0.27near the usual relationship
2026-06-26104.2245.63+0.32near the usual relationship
2026-06-25101.4045.13+0.24near the usual relationship
2026-06-2499.5743.79+0.31near the usual relationship
2026-06-23101.0246.71+0.08near the usual relationship
2026-06-2299.5646.92+0.00near the usual relationship
2026-06-1897.9245.92+0.03near the usual relationship
2026-06-1799.8146.04+0.11near the usual relationship
2026-06-1699.5746.21+0.09near the usual relationship
2026-06-15101.4648.75-0.06near the usual relationship
2026-06-12104.0654.50-0.44near the usual relationship
2026-06-11103.5753.13-0.34near the usual relationship
2026-06-10104.2955.38-0.48near the usual relationship
2026-06-09103.2551.96-0.24near the usual relationship
2026-06-08102.0553.50-0.42near the usual relationship
2026-06-05103.0053.33-0.36near the usual relationship
2026-06-04103.9754.83-0.44near the usual relationship
2026-06-03101.5152.17-0.33near the usual relationship
2026-06-02101.7951.54-0.27near the usual relationship
2026-06-0198.2852.83-0.53VG ahead
2026-05-2996.9850.17-0.36near the usual relationship
2026-05-2899.0152.25-0.45near the usual relationship
2026-05-2799.6251.54-0.37near the usual relationship
2026-05-26100.9453.71-0.49near the usual relationship
2026-05-22103.8857.63-0.68VG ahead
2026-05-21103.7056.50-0.61VG ahead
2026-05-20105.0958.46-0.70VG ahead
2026-05-19106.4361.58-0.88VG ahead
2026-05-18106.8559.04-0.69VG ahead
2026-05-15104.3059.29-0.82VG ahead
2026-05-14103.9854.21-0.44near the usual relationship
2026-05-13103.2454.17-0.47near the usual relationship
2026-05-12105.3755.29-0.47near the usual relationship
2026-05-11103.8148.42+0.04near the usual relationship
2026-05-08103.5647.71+0.09near the usual relationship
2026-05-07106.4348.71+0.12near the usual relationship
2026-05-06112.7550.00+0.25near the usual relationship
2026-05-05116.2454.25+0.02near the usual relationship
2026-05-04117.6857.38-0.17near the usual relationship
2026-05-01116.4853.04+0.12near the usual relationship
2026-04-30118.5855.29+0.01near the usual relationship
2026-04-29117.4154.83+0.00near the usual relationship
2026-04-28114.2850.67+0.22near the usual relationship
2026-04-27111.8850.79+0.11near the usual relationship
2026-04-24110.8849.58+0.17near the usual relationship
2026-04-23110.9253.96-0.19near the usual relationship
2026-04-22111.0551.42+0.02near the usual relationship
2026-04-21111.1850.38+0.10near the usual relationship
2026-04-20108.8447.71+0.24near the usual relationship
2026-04-17108.2947.75+0.21near the usual relationship
2026-04-16113.3252.83-0.03near the usual relationship
2026-04-15110.7350.75+0.04near the usual relationship
2026-04-14112.0052.13-0.03near the usual relationship
2026-04-13112.8353.13-0.08near the usual relationship
2026-04-10114.5354.04-0.09near the usual relationship
2026-04-09114.6354.13-0.10near the usual relationship
2026-04-08118.7060.17-0.40near the usual relationship
2026-04-07122.6066.63-0.70VG ahead
2026-04-06122.5166.42-0.69VG ahead
2026-04-02121.2661.00-0.38near the usual relationship
2026-04-01118.9761.17-0.48near the usual relationship
2026-03-31122.3865.67-0.66VG ahead
2026-03-30126.6570.38-0.81VG ahead
2026-03-27128.0673.04-0.93VG ahead
2026-03-26125.6870.08-0.83VG ahead
2026-03-25122.6669.63-0.91VG ahead
2026-03-24127.0569.17-0.74VG ahead
2026-03-23123.8765.83-0.64VG ahead
2026-03-20121.1565.88-0.74VG ahead
2026-03-19121.5759.54-0.30near the usual relationship
2026-03-18114.8261.88-0.70VG ahead
2026-03-17108.4754.04-0.37near the usual relationship
2026-03-16108.3851.17-0.15near the usual relationship
2026-03-13108.8054.58-0.41near the usual relationship
2026-03-12109.4853.21-0.27near the usual relationship
2026-03-11107.9651.92-0.23near the usual relationship
2026-03-10105.9947.50+0.06near the usual relationship
2026-03-09108.1747.96+0.11near the usual relationship
2026-03-06110.0452.00-0.16near the usual relationship
2026-03-05107.6351.17-0.18near the usual relationship
2026-03-04107.3846.50+0.22near the usual relationship
2026-03-03106.1347.75+0.07near the usual relationship
2026-03-02107.3647.42+0.15near the usual relationship
2026-02-27101.6740.38+0.59LNG ahead
2026-02-26100.2839.46+0.64LNG ahead
2026-02-2595.1838.79+0.50LNG ahead
2026-02-2495.3038.96+0.49near the usual relationship
2026-02-2396.3339.29+0.51LNG ahead
2026-02-2097.6840.38+0.46near the usual relationship
2026-02-1997.5541.21+0.38near the usual relationship
2026-02-1896.4939.79+0.48near the usual relationship
2026-02-1794.4636.54+0.74LNG ahead
2026-02-1395.2339.00+0.52LNG ahead
2026-02-1293.8938.67+0.51LNG ahead
2026-02-1194.6340.75+0.34near the usual relationship
2026-02-1094.1842.25+0.18near the usual relationship
2026-02-0993.0142.38+0.13near the usual relationship
2026-02-0691.9141.25+0.20near the usual relationship
2026-02-0590.8038.83+0.39near the usual relationship
2026-02-0492.2440.04+0.34near the usual relationship
2026-02-0390.9939.50+0.35near the usual relationship
2026-02-0289.6137.58+0.48near the usual relationship
2026-01-3091.2340.83+0.25near the usual relationship
2026-01-2991.8640.29+0.33near the usual relationship
2026-01-2889.7339.63+0.31near the usual relationship
2026-01-2788.7337.13n/a
2026-01-2689.0739.08n/a
2026-01-2389.4341.17n/a
2026-01-2289.1939.71n/a
2026-01-2189.4137.71n/a
2026-01-2087.5735.33n/a
2026-01-1689.1536.67n/a
2026-01-1587.4433.17n/a
2026-01-1486.1433.00n/a
2026-01-1383.5432.83n/a
2026-01-1283.4330.75n/a
2026-01-0983.7530.13n/a
2026-01-0884.7531.33n/a
2026-01-0784.5628.42n/a
2026-01-0683.9329.00n/a
2026-01-0585.7128.46n/a
2026-01-0285.3129.33n/a
2025-12-3183.8428.42n/a
2025-12-3083.4329.21n/a
2025-12-2983.0729.25n/a
2025-12-2681.6528.96n/a
2025-12-2482.0930.13n/a
2025-12-2382.6829.29n/a
2025-12-2281.6727.54n/a
2025-12-1981.8426.46n/a
2025-12-1881.8825.25n/a
2025-12-1782.1024.75n/a
2025-12-1681.6424.67n/a
2025-12-1581.4424.71n/a
2025-12-1281.6725.63n/a
2025-12-1182.6426.00n/a
2025-12-1083.2025.29n/a
2025-12-0985.7127.63n/a
2025-12-0886.6027.50n/a
2025-12-0588.7128.42n/a
2025-12-0489.6729.25n/a
2025-12-0389.9128.71n/a
2025-12-0290.2627.63n/a
2025-12-0190.8728.67n/a
2025-11-2889.9131.08n/a
2025-11-2688.7629.71n/a
2025-11-2588.3828.71n/a
2025-11-2488.2329.33n/a
2025-11-2188.6330.21n/a
2025-11-2089.7829.79n/a
2025-11-1990.4132.38n/a
2025-11-1891.6332.92n/a
2025-11-1792.8233.79n/a
2025-11-1492.8133.25n/a
2025-11-1392.0032.75n/a
2025-11-1292.1033.88n/a
2025-11-1191.4331.38n/a
2025-11-1091.2435.38n/a
2025-11-0789.6733.29n/a
2025-11-0689.7232.29n/a
2025-11-0588.6932.29n/a
2025-11-0489.1733.21n/a
2025-11-0390.4034.83n/a
2025-10-3191.4335.71n/a
2025-10-3091.2335.75n/a
2025-10-2991.0636.67n/a
2025-10-2893.1639.13n/a
2025-10-2794.8039.00n/a
2025-10-2494.7139.54n/a
2025-10-2395.5540.17n/a
2025-10-2296.8139.75n/a
2025-10-2195.8440.04n/a
2025-10-2095.4538.71n/a
2025-10-1794.4437.00n/a
2025-10-1694.9238.04n/a
2025-10-1597.1438.08n/a
2025-10-1497.5737.50n/a
2025-10-1397.9037.67n/a
2025-10-1098.0639.38n/a
2025-10-0999.7952.42n/a
2025-10-08101.6754.29n/a
2025-10-07101.5053.75n/a
2025-10-06100.6058.12n/a
2025-10-03100.1858.12n/a
2025-10-0299.9757.42n/a
2025-10-01100.1161.33n/a
2025-09-30101.3559.12n/a
2025-09-29101.5559.25n/a
2025-09-26102.8361.79n/a
2025-09-25102.4861.46n/a
2025-09-24102.0560.54n/a
2025-09-23101.3260.71n/a
2025-09-2299.5459.25n/a
2025-09-1999.8455.21n/a
2025-09-18101.0757.67n/a
2025-09-17101.4958.12n/a
2025-09-16101.3158.75n/a
2025-09-15100.4156.88n/a
2025-09-12101.8256.67n/a
2025-09-11102.2557.29n/a
2025-09-10102.2358.21n/a
2025-09-09101.1055.38n/a
2025-09-08100.6656.50n/a
2025-09-05101.6953.50n/a
2025-09-04102.2053.63n/a
2025-09-03103.2553.00n/a
2025-09-02103.8854.17n/a
2025-08-29104.3054.17n/a
2025-08-28104.4353.42n/a
2025-08-27104.2054.17n/a
2025-08-26104.1953.67n/a
2025-08-25103.2355.63n/a
2025-08-22102.4653.58n/a
2025-08-21103.7753.21n/a
2025-08-20101.7952.33n/a
2025-08-1999.3751.04n/a
2025-08-1899.1751.58n/a
2025-08-1599.2652.04n/a
2025-08-14100.3357.13n/a
2025-08-1399.7556.83n/a
2025-08-1299.1050.75n/a
2025-08-1199.2250.29n/a
2025-08-0899.5651.46n/a
2025-08-07101.4756.96n/a
2025-08-06101.7559.71n/a
2025-08-05103.3561.54n/a
2025-08-04104.3862.21n/a
2025-08-01102.7862.17n/a
2025-07-31101.7363.88n/a
2025-07-30100.6264.00n/a
2025-07-29101.3565.29n/a
2025-07-2898.5463.21n/a
2025-07-2597.2060.67n/a
2025-07-2497.3960.25n/a
2025-07-2396.3061.50n/a
2025-07-2296.0462.75n/a
2025-07-2197.6663.21n/a
2025-07-18105.3666.25n/a
2025-07-1799.9267.83n/a
2025-07-1699.8567.92n/a
2025-07-15101.5069.00n/a
2025-07-14104.1769.92n/a
2025-07-11101.4574.50n/a
2025-07-10101.0270.25n/a
2025-07-09101.7768.42n/a
2025-07-08102.1265.67n/a
2025-07-07102.8963.17n/a
2025-07-03103.3564.83n/a
2025-07-02103.6364.42n/a
2025-07-01101.8062.17n/a
2025-06-30105.0364.92n/a
2025-06-27103.5165.38n/a
2025-06-26104.4169.88n/a
2025-06-25101.9267.33n/a
2025-06-24103.4969.67n/a
2025-06-23100.2968.92n/a
2025-06-20101.3379.21n/a
2025-06-18101.3876.17n/a
2025-06-17101.7873.79n/a
2025-06-16100.7572.50n/a
2025-06-13102.7973.50n/a
2025-06-12101.3769.63n/a
2025-06-11101.3569.83n/a
2025-06-1099.2671.00n/a
2025-06-0998.6765.58n/a
2025-06-06104.8463.42n/a
2025-06-05105.1958.79n/a
2025-06-04103.8962.13n/a
2025-06-03105.3859.50n/a
2025-06-02104.9049.13n/a
2025-05-30102.2148.21n/a
2025-05-2999.9849.38n/a
2025-05-28100.7649.92n/a
2025-05-2799.9151.58n/a
2025-05-2398.8247.46n/a
2025-05-2298.5645.75n/a
2025-05-2198.9043.33n/a
2025-05-20100.4743.33n/a
2025-05-19100.5842.12n/a
2025-05-16101.3840.79n/a
2025-05-15101.6641.00n/a
2025-05-14100.6042.33n/a
2025-05-13100.3744.67n/a
2025-05-1299.4041.29n/a
2025-05-09100.8438.96n/a
2025-05-08102.3538.17n/a
2025-05-07102.9837.50n/a
2025-05-06101.1236.25n/a
2025-05-05101.5735.63n/a
2025-05-02101.6936.75n/a
2025-05-0199.4136.25n/a
2025-04-3099.6834.96n/a
2025-04-29102.5735.83n/a
2025-04-28102.4835.96n/a
2025-04-25100.5735.96n/a
2025-04-24100.1836.29n/a
2025-04-2398.3737.38n/a
2025-04-2299.1135.83n/a
2025-04-2196.3335.63n/a
2025-04-1799.8235.92n/a
2025-04-1698.1037.00n/a
2025-04-1597.8834.54n/a
2025-04-1495.6035.08n/a
2025-04-1195.0234.50n/a
2025-04-1091.8032.54n/a
2025-04-0993.9536.38n/a
2025-04-0888.4832.58n/a
2025-04-0787.2129.17n/a
2025-04-0485.0731.17n/a
2025-04-0394.9237.42n/a
2025-04-02101.1941.50n/a
2025-04-0199.6141.67n/a
2025-03-3199.8042.92n/a
2025-03-2897.5741.46n/a
2025-03-2797.8144.38n/a
2025-03-26100.2546.83n/a
2025-03-25100.0647.79n/a
2025-03-24100.7548.21n/a
2025-03-2197.8348.37n/a
2025-03-2099.3049.08n/a
2025-03-1998.0246.67n/a
2025-03-1896.6245.38n/a
2025-03-1795.9747.04n/a
2025-03-1494.2544.63n/a
2025-03-1391.2440.33n/a
2025-03-1292.8042.71n/a
2025-03-1191.1640.29n/a
2025-03-1092.4737.29n/a
2025-03-0794.9738.46n/a
2025-03-0692.9137.92n/a
2025-03-0593.8359.29n/a
2025-03-0494.8857.38n/a
2025-03-0395.2557.96n/a
2025-02-2898.5862.88n/a
2025-02-2794.8558.00n/a
2025-02-2694.4559.17n/a
2025-02-2593.1858.79n/a
2025-02-2494.7963.25n/a
2025-02-2195.3964.04n/a
2025-02-2097.8768.92n/a
2025-02-1994.3767.13n/a
2025-02-1893.0170.54n/a
2025-02-1492.0966.50n/a
2025-02-1390.5763.71n/a
2025-02-1290.2863.46n/a
2025-02-1194.5468.75n/a
2025-02-1095.5471.71n/a
2025-02-0793.7973.08n/a
2025-02-0694.2972.83n/a
2025-02-0599.4582.00n/a
2025-02-0498.3485.21n/a
2025-02-0399.0189.33n/a
2025-01-3196.4685.21n/a
2025-01-3099.2884.92n/a
2025-01-2998.3583.13n/a
2025-01-2897.6883.33n/a
2025-01-2796.8183.04n/a
2025-01-24100.00100.00n/a

No one-day company-specific move of 4+ standard deviations in this window. Upcoming earnings: LNG Oct 29, 2026 (pre-market).

Paired trades

The shared paper book and the replay, kept apart

Forward paper record

No paper position on this pair yet.

Historical simulation (a diagnostic, same rules)

No simulated trade through Oct 20, 2026: the pair rarely passed every test while 2 standard deviations apart.

Per $10,000 a leg. A replay on today's companies cannot prove an edge.

The companies

LNG and VG at a glance

LNG Cheniere Energy Inc.

Listing
NYSE · SEC CIK 3570
Industry
Oil/Gas Transmission · SIC 4924 Natural Gas Distribution
Market value
$59.2B
Price history
2,520 daily closes, Oct 12, 2016 to Oct 22, 2026

VG Venture Global Inc.

Listing
NYSE · SEC CIK 2007855
Industry
Oil/Gas Transmission · SIC 4924 Natural Gas Distribution
Market value
$32.0B
Price history
439 daily closes, Jan 24, 2025 to Oct 22, 2026

Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.

Related
All pairs →
PairStatusAhead nowIndustry
LNG / ATOWatchlistLNG by 1.32 sdOil/Gas Transmission
VG / ATOWatchlistVG by 0.55 sdOil/Gas Transmission

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Explore the private beta

Paper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.