Venture Global requests that Chevron have a say on the Plaquemines LNG startup extension

Chevron asked federal regulators on Tuesday to allow it to give an opinion about Venture Global's request for additional time to commission the Plaquemines LNG facility in Louisiana. The U.S. petroleum major has a long term sales and purchase contract with the plant that could be affected if there is a delay.

The filing by Chevron comes just days after an arbitral tribunal found that Venture Global had breached a contract with BP regarding the timely declaration of commercial operations at Calcasieu Pass, also located in Louisiana. The LNG producers' shares

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Investors are worried about ongoing arbitration obligations.

Venture Global requested last month that the Federal Energy Regulatory Commission give it until 2027 to complete the Plaquemines Plant. Venture Global cited challenges arising from the Covid-19 Pandemic. The original deadline for putting the export facility of 27.2 million tons per year into service was September 30th, 2026.

In the filing, Chevron stated that it had a "substantial interest" which could be directly affected by this proceeding's outcome. The company didn't immediately respond to an inquiry for more information.

Venture Global described the extension request as a routine procedural step taken to align schedules and FERC deadlines for in-service.

Venture Global said on Tuesday that the request for an extension to the deadline for Plaquemines' in-service date has no effect on the publicly stated expectations of the commercial operation dates of Phase 1 and 2 which remain unchanged. Curtis Williams reported from Houston, and Nathan Crooks edited the story.

(source: Reuters)