Venture Global LNG has begun commercial operations at its Calcasieu Pass plant in Louisiana, ending a more than a three-year commissioning process at the plant, the company said on Tuesday.Venture Global will
Venture Global LNG has begun commercial operations at its Calcasieu Pass plant in Louisiana, ending a more than a three-year commissioning process at the plant, the company said on Tuesday.
Venture Global will now sell LNG to its long-term customers at lower prices rather than test cargoes to the highest bidders in the red-hot global market.
Just a startup five years ago, Venture Global is the country's second-largest LNG producer, helping the U.S. lead the world in LNG exports.
Commissioning, or making sure a new plant's systems are functioning as designed, takes months at many LNG facilities but the process dragged on at Calcasieu Pass due to several unforeseen circumstances.
These included the global pandemic, two hurricanes, and a force majeure event triggered by issues with the facility's power island, the company based in Arlington, Virginia, said on Tuesday.
"Having completed a multi-year rectification and remediation of key components of the facility that underpin the redundancy features inherent in the project’s design, Calcasieu Pass is now ready to operate safely and reliably," Venture Global said in a statement.
Shell, BP, Orlen, Edison and Repsol filed arbitration claims saying Venture Global LNG deliberately failed to fulfill their supply
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