Venture LNG Plant Development Not Slowed by Arbitration Cases

Development of Venture Global LNG's US LNG plants has not been slowed by a series of contract arbitration cases over its failure to deliver cargoes to contract holders including BP and Shell from Calcasieu Pass.

• “Venture Global continues to enjoy robust commercial, financial, and regulatory support," Sabel told Reuters. "We are moving full steam ahead in the development and execution of Calcasieu Pass, Plaquemines and CP2," the CEO said.
• The Plaquemines project is proceeding toward a 2024 start of commercial operations with a third LNG storage tank roof installed last week and four of 24 liquefaction trains already arrived at the construction site.
• CP2 could get its financial go-ahead later this year with nearly half the 20mtpa capacity contracted and expects full capacity to be sold out before the end of 2023.
• Venture Global LNG claims Calcasieu Pass has yet to start full commercial operations due to equipment malfunctions, even though it has delivered over 200 spot cargoes of LNG worth around $17bn to buyers since 2022.
• Both BP and Shell have separately accused the US LNG exporter of failing to supply them with contracted cargoes while selling spot gas to non-contract customers amid soaring global prices.