The Calcasieu Pass LNG export facility's foundational customers have turned to legal auction due to the plant’s long commissioning time. (Source: Shutterstock, Venture Global LNG)
A Federal Energy Regulatory Commission (FERC) inspection of Venture Global’s Calcasieu Pass LNG export facility found that the company was proceeding with repairs according to federal standards, a report released Sept. 26 said.
The Venture Global project, located in Cameron Parish, Louisiana, has been at the center of a dispute between the company and six of its foundational customers for most of 2024.
Venture Global is transforming natural gas into LNG and shipping it from the plant. However, the project has not been fully completed and commissioned, meaning the company does not have to sell its product to its foundational customers and can take it to the worldwide market instead.
The foundational customers, including Shell, BP, Spain's Repsol, Italy's Edison, Portugal's Galp and Poland's PKN Orlen, are in arbitration against Venture.
RELATED
Shell, BP Pursue Arbitration Claims Against Venture Global LNG
The federal report found that “construction and commissioning activities observed during the inspection comply with the designs and plans filed with and approved by FERC.”
Venture Global is working on several projects to current performance deficiencies, including work on a heat recovery steam generator and boiler tube replacement, according to the report.
Recommended Reading
Kissler: Wildcards That Could Impact Oil, Gas Prices in 2025
2024-11-26 - Geopolitics and weather top the list of trends that will determine the direction of oil and gas.
What's Affecting Oil Prices This Week? (Nov. 18, 2024)
2024-11-18 - For the upcoming week, the price of Brent crude could test its support at $70 and if the price breaks below this level, the price of Brent could fall to $66.
Paisie: Favorable Fundamentals Will Lift 4Q Crude Prices
2024-11-20 - China, OPEC+ and the Middle East continue to feed volatility into the oil market.
What's Affecting Oil Prices This Week? (Dec. 16, 2024)
2024-12-16 - For the upcoming week, Stratas Advisors expect oil prices will move sideways with more downside risk than upside potential.
Paisie: Trump’s Impact on All Things Energy
2024-12-11 - President-elect Donald Trump’s policies are expected to benefit the U.S. oil and gas sector, but also bring economic and geopolitical risks.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.