VLADIMIR UREVICH’s Post

Venture Global LNG wants to extend the force majeure at its Calcasieu Pass LNG plant in Louisiana to 2025, delaying first supplies under long-term contracts to three years after starting production. https://ow.ly/k1JG50Uw6OQ

𝙁𝙀𝙍𝘾 𝙎𝙪𝙥𝙥𝙤𝙧𝙩𝙨 𝙑𝙚𝙣𝙩𝙪𝙧𝙚 𝙂𝙡𝙤𝙗𝙖𝙡 𝙇𝙉𝙂 𝘼𝙢𝙞𝙙 𝙀𝙦𝙪𝙞𝙥𝙢𝙚𝙣𝙩 𝙄𝙨𝙨𝙪𝙚𝙨 In a recent report, the Federal Energy Regulatory Commission (FERC) confirmed that Venture Global LNG has effectively addressed equipment issues at its Louisiana gas-processing plant, Calcasieu Pass. This affirmation supports the company's stance that it has not yet completed plant commissioning, which has delayed LNG deliveries to long-term customers for two years. Venture Global is involved in several arbitration cases with major customers like Shell, bp, and ORLEN S.A., who argue the company has financially benefited while citing the plant's non-operational status as a reason for withholding LNG cargoes. Despite the controversy, Venture Global is poised to become the second-largest LNG exporter in the U.S. by the end of the year as it ramps up production at another facility in Louisiana. #EnergySector #LNG #FERC #VentureGlobalLNG #BusinessNews https://lnkd.in/grd6EMd7

Securing Energy for Europe Holding GmbH (SEFE) has signed an agreement for the purchase of up to nine billion cubic meters (317.8 billion cubic feet) of natural gas from ConocoPhillips over the next 10 years, with the first gas deliveries already completed. The supply will be sourced from ConocoPhillips’ European portfolio and delivered to SEFE at various trading hubs in the continent, SEFE said in a press release Wednesday. “ConocoPhillips has a large and growing European supply portfolio including Norwegian natural gas production and LNG [liquefied natural gas] imports”, said the statement on SEFE’s website. “SEFE's European customer portfolio requires around 20 billion cubic meters [706.3 billion cubic feet] of natural gas per year. This partnership is a perfect fit to balance the supply and demand of both companies”.

Japan's Chiyoda and US-based CB&I have reached a deal with Golden Pass LNG, a joint venture owned by QatarEnergy and ExxonMobil, to complete the construction of the first liquefaction at the giant LNG export plant in Texas.

The next Big Energy IPO ⬇️ THE DISRUPTIVE innovator of the global gas industry is stepping out of the shadows. On January 13th Venture Global, a privately held exporter of liquefied natural gas (LNG) based in Virginia, unveiled details of its planned flotation in New York. About a decade ago it sprang from obscurity and shocked incumbents in America’s Texan oil patch by using scalable, modular equipment made in factories rather than costly, bespoke techniques used by its competitors. In doing so, the upstart reduced the time required to build a massive LNG terminal by about half, to less than three years. That helped it to undercut rivals on price and win early contracts with prestigious customers including Shell, a British oil major. When its second export terminal in Louisiana comes fully online, it will become the second-biggest LNG exporting firm in America, whose share of the world’s supply of lng is set to grow (see chart). Venture Global has already raised a whopping $54bn in capital to fund its investments and expansions. Source: the Economist. #energy #naturalgas

Latest scoop: Venture Global LNG plans a new project in Louisiana, called CP3, which would be its fifth planned export site. Back in 2023, Venture Global indicated its aims to reach up to 100 million tons a year, which it could do if all of its projects reach fruition. This is the latest development for the American LNG exporter that has planned an initial public offering. Read more here: https://lnkd.in/e4ZvcvqA

YPF’s decision to join its rival’s LNG venture underscores the critical importance of collaboration in advancing Argentina’s LNG ambitions. As the country’s quasi-NOC and largest gas producer, YPF’s involvement is not just strategic but essential to ensuring the project's scale, competitiveness, and alignment with national energy goals. Key challenges - such as infrastructure development and market competitiveness - remain, but this alliance could make them more manageable. By consolidating resources and combining forces, this partnership strengthens the prospects for successful project execution and paves the way for Argentina to leverage its unconventional resources. This could be a turning point for the country’s energy landscape. Let’s see how this unfolds! 🌍💡 #ArgentinaLNG #EnergyTransition #Collaboration

With the sale of interest, the ownership between Equinor and PGNiG Upstream Norway AS in production licenses PL 048E, which is the Eirin field, and PL 1201 will be balanced with the Gina Krog field. #offshore #oilandgas

QatarEnergy said Monday it has signed a long-term sales and purchase agreement (SPA) with Shell plc to provide 3 million tons/year (Mt/y) of LNG for delivery to China.

Venture Global LNG, founded by industry outsiders Michael Sabel and Robert Pender, has become one of the largest U.S. LNG producers and a contentious supplier, facing contract claims from six customers including bp, Shell, Repsol, ORLEN S.A., Galp Energia, and EDISON ENERGIA SPA. Despite having no prior LNG experience, the duo disrupted the industry through strategic contracts, good timing, and a plan to rapidly build three massive plants. Venture Global signed long-term contracts at significantly lower prices than market rates to secure financing, but customers argue the company is profiting billions by selling spot cargoes from its Calcasieu Pass plant, which remains in commissioning over two years after startup. The company insists it is not ready for commercial sales, while customers say it is producing above capacity. In March, a U.S. regulator sided with customers, ordering Venture Global to turn over documents explaining the plant's status. The company's innovative business model and partnerships with Baker Hughes have propelled its rapid growth but also drawn scrutiny over its contract disputes and sales practices. https://lnkd.in/guARsNC7