Exporting

You’ve heard of the Holy Trinity, right? Father, Son, and Holy Spirit. The three largest LNG exporting countries in the world, the U.S. (#1), Australia (#2), and Qatar (#3), are referred to as the LNG Trinity. Together, all three countries represent roughly 60% of all LNG exported on the planet. However, each country has its own strategy, politics, and approach to the market. How are they similar, and how are they different? Read More “LNG Wars: United States vs. Australia vs. Qatar – The LNG Trinity”

On Friday, we told you that a bankruptcy judge had tossed out a lawsuit brought by Freeport LNG against the companies that built the facility, claiming it was their shoddy work that has led to a steady string of problems and outages (see Bankruptcy Judge Tosses Freeport LNG Lawsuit Against 3 Contractors). We said this: “According to a Reuters story, Freeport experienced “roughly a dozen incidents” by early June. Since that time, things have thankfully improved.” We spoke too soon. Read More “Freeport LNG Train 3 Down Again; Caused 11-Hour “Emissions Event””

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. Read More “Venture Global LNG May Be on Hook for $5.9B to Jilted Customers”

Venture Global has some nerve. 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. And yet, the company is building a second LNG export facility, Plaquemines LNG, and is now floating an initial public offering (IPO), hoping to raise a staggering $3 billion! Who in their right mind would give a company that screws its contracted customers a single penny! Read More “Venture Global Chutzpah – Floats an IPO While Shafting Customers”