Latest news with #CalcasieuPass
Yahoo
3 days ago
- Business
- Yahoo
Venture Global Wins $1.6 Billion Arbitration Case Against Shell -- Shares Jump
Aug 13 - Venture Global (NYSE:VG) scored a big legal win that sent its stock higher by 14% on Wednesday morning, after an arbitration tribunal sided with the LNG exporter in a contract dispute with Shell (NYSE:SHEL). Traders pushed VG up about 14% as the panel rejected claims that the Calcasieu Pass plant failed to honor long-term cargo commitments. Several buyers, including Shell, BP (NYSE:BP) and Repsol (REPYF), accused Venture Global of selling contracted cargo into the spot market instead. Warning! GuruFocus has detected 4 Warning Signs with VG. Venture Global welcomed the ruling, saying the contracts' plain language supports its position. Shell called the tribunal's decision disappointing and warned that trust in long-term LNG deals remains critical for industry investment. The stakes were high: Venture Global previously estimated potential penalties as high as $1.6 billion if it lost the arbitration. The outcome eliminates a significant overhang on VG and allows management to take a breath in order to concentrate on operations, sales, and commercial activities at Calcasieu Pass. Nevertheless, the ruling does not get rid of the greater market tensions in relation to LNG supply and enforceability of contracts. Buyers and sellers will monitor whether this ruling will alter how the firms will weigh long term contracts against attractive spot opportunities. This article first appeared on GuruFocus. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
3 days ago
- Business
- Yahoo
Venture Global Wins $1.6 Billion Arbitration Case Against Shell -- Shares Jump
Aug 13 - Venture Global (NYSE:VG) scored a big legal win that sent its stock higher by 14% on Wednesday morning, after an arbitration tribunal sided with the LNG exporter in a contract dispute with Shell (NYSE:SHEL). Traders pushed VG up about 14% as the panel rejected claims that the Calcasieu Pass plant failed to honor long-term cargo commitments. Several buyers, including Shell, BP (NYSE:BP) and Repsol (REPYF), accused Venture Global of selling contracted cargo into the spot market instead. Warning! GuruFocus has detected 4 Warning Signs with VG. Venture Global welcomed the ruling, saying the contracts' plain language supports its position. Shell called the tribunal's decision disappointing and warned that trust in long-term LNG deals remains critical for industry investment. The stakes were high: Venture Global previously estimated potential penalties as high as $1.6 billion if it lost the arbitration. The outcome eliminates a significant overhang on VG and allows management to take a breath in order to concentrate on operations, sales, and commercial activities at Calcasieu Pass. Nevertheless, the ruling does not get rid of the greater market tensions in relation to LNG supply and enforceability of contracts. Buyers and sellers will monitor whether this ruling will alter how the firms will weigh long term contracts against attractive spot opportunities. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Bloomberg
3 days ago
- Business
- Bloomberg
Venture Global Confident It Will Win Other LNG Cases After Shell
Venture Global Inc., set to become the top US exporter of liquefied natural gas, is confident it will win the remaining arbitration cases on supply from its first plant in Louisiana after a victory over Shell Plc. The company on Tuesday said it won arbitration proceeding with Shell related to the timing of contractual shipments from the Calcasieu Pass plant, which came more than three years after the project began exporting the fuel. The shares jumped as much as 15% on Wednesday.
Yahoo
06-08-2025
- Business
- Yahoo
US DOE approves increase in Calcasieu Pass LNG's liquefaction capacity
Venture Global has secured an uprate approval from the US Department of Energy (DOE) for its Calcasieu Pass LNG project. The approval will enhance the facility's permitted peak liquefaction capacity from 12 million tonnes per annum (mtpa) to 12.4mtpa. Venture Global CEO Mike Sabel said: 'Venture Global thanks its regulators, including DOE, for their efforts in prioritising and streamlining approvals for critical energy infrastructure projects. 'These multibillion-dollar investments will be key as the United States strengthens global energy security and increases energy trade with our partners around the world.' Calcasieu Pass achieved first liquefied natural gas (LNG) production in 2022, while commercial operations commenced in April 2025. The project encompasses a 432-acre expanse featuring roughly one mile of waterfront. It consists of 18 liquefaction units, each with a capacity of 626,000 tonnes per annum, arranged into nine distinct blocks. There are two berths for loading ships, engineered to handle LNG carriers with a capacity of up to 185,000m³. The facility includes three gas pre-treatment units, with each one designed to fulfil around half of the project's gas pre-treatment requirements. The development features two LNG storage tanks, each with a full containment capacity of 200,000m³. The site is powered by a 720-megawatt (MW) peak output combined cycle gas turbine power station, supplemented by an additional 23MW nominal output gas-fired aeroderivative turbine. A solitary pipeline, 42in in diameter and extending 24 miles, named TransCameron, connects the site to nearby interconnection points close to the Grand Cheniere Station in Cameron Parish, Louisiana. Following on its heels, the company's second facility, Plaquemines LNG, began LNG production in December 2024. The third project, CP2, has also made considerable progress, receiving DOE export authorisation and Federal Energy Regulatory Commission approval in March and May 2025, respectively. It has secured long-term sales and purchase agreements for all of phase one and has initiated site work. In a related development, Venture Global recently reached a final investment decision and closed $15.1bn in project financing for the first phase of its CP2 LNG project, including the associated CP Express Pipeline. The CP2 LNG project, Venture Global's third undertaking, is set to make the company the largest exporter of LNG from the US. "US DOE approves increase in Calcasieu Pass LNG's liquefaction capacity" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
05-08-2025
- Business
- National Post
Venture Global Calcasieu Pass Receives Uprate Approval from U.S. Department of Energy
Article content ARLINGTON, Va. — Today, Venture Global, Inc. (NYSE: VG) received approval from the U.S. Department of Energy (DOE) for an uprate amendment to its Calcasieu Pass LNG project. The uprate approval increases Calcasieu Pass' permitted peak liquefaction capacity from 12.0 million tonnes per annum (MTPA) to 12.4 MTPA. Article content 'Venture Global thanks its regulators, including DOE, for their efforts in prioritizing and streamlining approvals for critical energy infrastructure projects. These multibillion dollar investments will be key as the United States strengthens global energy security and increases energy trade with our partners around the world,' said Venture Global CEO Mike Sabel. Article content Calcasieu Pass, Venture Global's first project, reached first LNG production in 2022 and began commercial operations in April 2025. The company's second facility, Plaquemines LNG, began LNG production in December 2024. Venture Global's third project, CP2, received DOE export authorization and FERC approval in March 2025 and May 2025, respectively, signed long-term sales and purchase agreements for all of Phase One, and commenced site work on the project. Article content About Venture Global Article content Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (LNG) with over 100 MTPA of capacity in production, construction, or development. Venture Global began producing LNG from its first facility in 2022 and is now one of the largest LNG exporters in the United States. The company's vertically integrated business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. The company's first three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located in Louisiana along the Gulf of America. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities. Article content Forward-looking Statements Article content This press release contains certain statements that may include 'forward-looking statements.' All statements, other than statements of historical or present facts or conditions, included herein are 'forward-looking statements.' Included among 'forward-looking statements' are, among other things, statements regarding Venture Global's business strategy, plans and objectives, including the use of proceeds from the offering. Venture Global believes that the expectations reflected in these 'forward-looking statements' are reasonable, they are inherently uncertain and involve a number of risks and uncertainties beyond Venture Global's control. In addition, assumptions may prove to be inaccurate. Actual results may differ materially from those anticipated or implied in 'forward-looking statements' as a result of a variety of factors. These 'forward-looking statements' speak only as of the date made, and other than as required by law, Venture Global undertakes no obligation to update or revise any 'forward-looking statement' or provide reasons why actual results may differ, whether as a result of new information, future events or otherwise. Article content Article content Article content Article content
