FERC Press for Venture Global Explanation

The U.S. Federal Energy Regulatory Commission (FERC) asked Venture Global LNG on Wednesday to explain why reports on its Calcasieu Pass LNG plant need to be kept confidential.

• The request was the first FERC response to customer filings including BP, Shell and Edison over whether Venture LNG can fulfil its contractual obligations.
• The customers have complained that they have not received sufficient explanations for the delay, which they say has cost them billions of dollars in profit.
• Venture Global claims to still be in a commissioning phase for its Calcasieu Pass LNG facility, meaning it does not need to supply contractual obligations. It has been delivering spot market cargoes instead.
• Venture Global making Calcasieu Pass filings non-public for nearly a decade does not meet regulations and "is consistent with company’s complete disregard for transparency," a Shell spokesperson said.