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Venture Global LNG has almost completed repairs at Calcasieu Pass Power Plant -FERC

January 29, 2025

A federal inspection report released on Wednesday said that Venture Global LNG may be able to complete power generator repairs before the end of the month. This could pave the way for the completion of the nearly three-year long commissioning process of the Calcasieu Pass LNG Plant.

Venture Global has become the most valuable U.S. gas company after its initial public offering, which took place on Thursday. It blamed equipment failures and unreliability in its power generators for its inability deliver cargoes to long-term clients from Calcasieu Pass.

Some of the top oil and gas producers in the world, such as BP, Shell Edison, Orlen, and Repsol, brought contract arbitration lawsuits against the government because of delays.

Inspectors of the Federal Energy Regulatory Commission stated in a regulatory document on Wednesday that a "fifth-and-final" generator project is currently underway "and completion should be by February 2025".

Inspection report: The inspection took place one week ago. It found that Venture Global has made such progress, that a temporary solution suggested by FERC is no longer needed.

Venture Global is not available to comment immediately.

Shell has said that it is waiting for the delivery of its cargoes.

Venture Global has been telling us that we will be receiving deliveries for almost two years. The delivery never came. Shell has proven to be a unreliable provider and until we receive the cargoes we contracted, we will continue viewing them as such.

Repsol's spokesperson stated that it has no additional information regarding timing.

Venture Global expects to transition from the commissioning phase to the commercial operation at Clacasieu Pass in the first quarter 2025. Curtis Williams, Houston. Cynthia Osterman, editing.

(source: Reuters)

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