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Reuters

Venture Global LNG explains to US regulator its failure to sell commercial cargoes

HOUSTON (Reuters) -Venture Global LNG has told a U.S. regulator that it cannot meet contracts to provide liquefied natural gas (LNG) cargoes to several major customers because its export plant is not yet ready to meet three criteria in the contracts, according to a letter to the Federal Energy Regulatory Commission (FERC). Shell PLC, BP PLC, Galp and others have complained that they have lost billions of dollars in sales because Venture Global’s Calcasieu Pass export facility has been producing and selling LNG for more than 20 months while saying it cannot provide them with term-contract cargoes while the plant is undergoing a commissioning phase. Venture Global in response to a letter from Shell said that under the contract, the criteria to move to commercial operations include all of the facilities being completed, commissioned and capable of delivering LNG in sufficient and quality quantities to allow Venture Global to perform all of its obligations to its customers.


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