Venture Global LNG May Be on Hook for $5.9B to Jilted Customers

In August, we told you that most of Venture Global’s contracted customers for LNG from the company’s Calcasieu Pass LNG export facility in southwestern Louisiana’s Cameron Parish had filed for arbitration over Venture Global’s refusal to sell them cargoes under contract (see Shell, Edison, BP File for Arbitration Against Venture Global LNG). Instead, Venture Global is selling its cargoes on the open “spot” market at higher prices, violating its agreement with its customers. Venture has shipped (at last count) over 355 cargoes from Calcasieu Pass! Yet the company claims CP is still not "commercially ready." It's bullcrapus of the highest order. Now comes word from the arbitration hearings that Venture Global may be on the hook to pay its jilted customers $5.9 BILLION. That would be sweet justice.

---

To view this content, log into your member account. (Not a member? Join Today!)