This company could take the LNG market by storm. It only launched three years ago

Venture Global is on track to become the largest U.S. liquefied natural gas company by next year if it continues with its CP2 project in Louisiana and continues current overcapacity production at its existing facilities, according to data from London Stock Exchange Group (LSEG) and company statements.

Venture Global , which started operations just three years ago, now has a combined capacity to produce 38.5 million tonnes of LNG per year from two operating plants in Louisiana, according to LSEG.

That number could increase to 66.5 tons once the newest 28-ton CP2 plant, also in Louisiana, is approved and completed .

That would put the company ahead of rival Cheniere, which is expected to have production capacity of 60 tons by then.

Venture Global was able to outperform its rivals in terms of scale largely by building components quickly in factories outside the United States and then assembling them in U.S. facilities in record time, Jason Feer, a director at consulting firm Poten and Partners, told Reuters.

Venture Capital is also building its competitive advantage thanks to the production of liquefied gas that goes beyond the expected scope.

The company initially expected to produce 10 tons at its first plant, Calcasieu Pass, and 20 tons at Plaquemines, which is currently being expanded. Those capacities have now been revised to 12 tons at Calcasieu Pass and 26.5 tons at Plaquemines, the company said.