Not every woman releases a liquid when she orgasms.
There are two kinds of orgasms.
1. Clitoral: the "official" orgasm. Most women can orgasm by stimulating the clitoris. This, to my knowledge, does not normally result in squirting or female ejaculation of any kind. Sometimes when the vaginal walls contract during clitoral orgasm, they may squeeze out some of the vaginal secretions, but this is not actually "female ejaculation".
2. Vagina or G-Spot Orgasm: The debated orgasm. Why? Well for one thing, not every woman seems to have a g-spot. Others have one and just don't orgasm from g-spot stimulation alone. G-spot stimulation for a woman often feels like she really needs to pee. This is because the g-spot is located next to some hypothetical glands that surround the urethra (that's the tube connected to your bladder that you pee out of). Stimulation of these glands makes them secrete a liquid into the urethra and it gets held there until the woman orgasms. Then the liquid is shot out with the same muscles used for urinating. This is called female ejaculation and/or squirting.
I hope this answers your question!