With assistance from Anna Shiryaevskaya. BP and PKN ORLEN didn’t immediately respond to request for comment. Repsol said it’s concerned about the significant delay and is seeking more information. Other long-term customers at Calcasieu Pass include BP Plc, Galp Energia SGPS SA, Repsol SA and Polish company PKN ORLEN. Buyers, including Shell Plc and Italian utility Edison, have lodged arbitration cases against Venture Global for failing to supply contracted shipments, the people said. Instead, the company can sell the fuel at higher spot market rates.
The project will make 10 million tons of LNG per year. (NASDAQ: NFE) (together with its affiliates, NFE) announced today the execution of two 20-year Sale and Purchase Agreements (SPA) with Venture Global LNG (Venture Global). Until that work is done and commercial operations begin, Venture Global isn’t obligated to supply shipments to the fuel to long-term customers at contracted prices. While the Calcasieu Pass plant in Louisiana has been steadily shipping LNG since March 2022, it has yet to enter commercial operations, citing ongoing plant issues with its steam generators.
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The company previously said that the producer remains in full compliance with its long-term contracts, including on timing. Venture Global didn’t respond to requests for comment.
The company first commissioned the plant in early 2022. That shipment date would give Calcasieu Pass the longest commissioning period for any US LNG project. Today Venture Global announced the execution of two long-term Sales and Purchase Agreements (SPAs) for the purchase of two million tonnes per annum (2MTPA) of liquefied natural gas (LNG) for 20. The company has revised the start of contract cargoes from its Calcasieu Pass LNG plant to late 2024, extending a previous delay by almost a year, according to people familiar with the matter who asked not to be named because the information is private. is further delaying shipments to its long-term customers, with commercial operations of its US liquefied natural gas export plant now not expected to start until the end of next year.
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