![]() ![]() Still, the facility has shipped six pre-commercial LNG cargoes so far this month, and 166 since its exports began in March 2022, Refinitiv vessel tracking data showed. However, the plant's on-site power supply facility required extensive repairs that will prevent contract deliveries from the first phase until early 2024, Venture Global LNG has said. It stitched together 18 liquefaction units to produce up to 12 million tons per year of the supercooled gas. The contracts were tied to Calcasieu Pass LNG, the first of Venture Global LNG's three planned facilities. It has pledged to produce 70 million tons of LNG per year once the projects are completed. regulators to release confidential records that would shed light on the plant's startup.įounded by a former energy lawyer and investment banker, Venture Global LNG has emerged as a market force with its ability to obtain financing and rapidly build export plants. Another Venture Global LNG contract customer, Spanish energy firm Repsol SA, has asked U.S. A similar case was brought by Italian utility Edison in May. The companies filed their cases at the London Court of International Arbitration. Prices for liquefied natural gas (LNG) soared last year on Russia's gas-supply cuts to Europe. Shell and BP missed out on billions of dollars in sales that went to Venture Global LNG because they were unable to get their contracted fuel, one of the people familiar with the arbitration filings said. Last month, the company said it was in full compliance with terms of its long-term contracts and cited a need for extensive commissioning of its modular facility. exporter Venture Global LNG for failing to supply contracted cargoes, even as it sold to non-contract customers as prices soared, four people familiar with the matter said.Ī Venture Global LNG spokesperson did not comment on the Shell and BP claims. ![]() Top LNG traders Shell and BP have separately filed for arbitration against U.S. ![]()
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