Venture Global CEO on $15B financing: 'Very early days' of global gas exports
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
3 days ago
- CNBC
Trump-Putin talks' best case scenario is a ceasefire, says Rapidan Energy's Bob McNally
Bob McNally, Rapidan Energy Group president and founder, joins 'Power Lunch' to discuss how Russia is avoiding current sanctions, what's best for negotiations and much more.
CNBC
3 days ago
- CNBC
Market broadening could happen in second half of the year, says Morgan Stanley's Aaron Dunn
Aaron Dunn, Morgan Stanley Investment Management co-head of value equity, joins 'Power Lunch' to discuss what Dunn's paying attention to, the value names to follow and much more.
American Press
3 days ago
- American Press
Venture Global wins arbitration case against Shell
Venture Global won a legal battle against Shell this week, which had accused the company of failing to deliver liquefied natural gas from its Calcasieu Pass facility under long-term contracts starting in 2023. Shell alleged that Venture Global capitalized on higher spot market prices by selling LNG cargoes, rather than fulfilling its long-term contract obligations following Russia's full-scale invasion of Ukraine. Shell said Venture Global enriched itself at their expense by withholding the cargo after the invasion sent natural-gas prices soaring. Venture Global fervently defended their position and maintained they had honored their contracts. The company said the International Chamber of Commerce's International Court of Arbitration decision on Tuesday corroborated that stance. 'We are pleased with the tribunal's determination, which reaffirms what Venture Global has maintained from the outset – the plain language in our contracts, mutually agreed upon with all of our customers, is clear,' the company stated in an email to the American Press. 'We have consistently honored these agreements without exception.' Venture Global said the decision affirms it has been transparent since day one, as outlined in their permits to federal and state regulators and in their contracts with customers. The company, which has an export facility in Sulphur, said its investors 'rely on respect for both the sanctity of negotiated contracts and the experienced, objective regulatory and legal bodies that govern it. These principles will ensure our industry remains dynamic, fair and competitive, enabling the innovation and breakthroughs that benefit all market participants and the customers we serve.' Shell expressed its disappointment following the ruling but acknowledged its respect for the decision.
