Sen. Jeff Merkley is calling for an insider trading investigation after founders of a company developing liquified natural gas projects in Louisiana bought shares following a meeting with Trump officials.

A recent investigation by The Guardian shed light on the purchase of millions of shares in Venture Global by the company’s founders and co-chairs Robert Pender and Michael Sabel. The two went on a share buying spree days after meeting with senior Trump officials, including Energy Secretary Chris Wright.

On March 6, Wright and Interior Secretary Doug Bergum were among the officials attending an announcement of an expansion of the company’s Plaquemines LNG export terminal in southern Louisiana. On March 10, Sabel and Pender began buying shares, with purchases adding up to shares worth $12 million each by March 14, according to the Guardian.

On March 19, the Department of Energy issued an export license for Venture Global’s CP2 LNG terminal in Cameron Parish Louisiana, whose first phase is expected to begin operating in mid-2026.

“This latest reporting portrays a pattern of pay-to-play donations and favorable actions by the administration,” said Merkley, an Oregon Democrat and senior member of the Senate’s appropriations and budget committees.