(Bloomberg) -- Venture Global LNG Inc., the US liquefied natural gas exporter embroiled in a dispute with several of its customers, is acquiring nine LNG...
-- Venture Global LNG Inc., the US liquefied natural gas exporter embroiled in a dispute with several of its customers, is acquiring nine LNG carriers and expanding its sales operations to market their cargoes.
Sabel said that repairs at the facility, Calcasieu Pass, are ongoing and are due to be completed at the end of the year, adding that the company even offered early commissioning cargoes to Shell, which declined them. Shell didn’t immediately respond to a request for comment sent on Sunday. “We’re long LNG, and we mostly right now view this as just selling LNG rather than traditional traders, where they buy LNG from some producers and sell it to others,” he said. “Over time, we’ll look for opportunities where we will trade cargoes between basins, and that’ll develop naturally.”Sabel declined to comment on the cost of the specialized ships, which in recent months have fetched prices of as much as $281 million each.
Venture Global first began shipping LNG cargoes from the facility in early 2022, coinciding with Russia’s invasion of Ukraine and the subsequent jump in spot LNG prices. But Venture Global says the plant can’t enter commercial operations until the fourth quarter of this year, due to technical issues.
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