BP escalates Venture Global LNG feud

BP Plc asked US energy regulators to intervene in its dispute with Venture Global LNG Inc. over liquefied natural gas cargoes, escalating a feud that’s roiled the market for the super-chilled fuel.

The London-based supermajor accused Venture Global of violating its contract by selling cargoes from its plant at Calcasieu Pass in Louisiana through one-off deals rather than supplying customers signed up for long-term deals, according to a letter BP sent to the Federal Energy Regulatory Commission on Monday.

Venture Global began operations at the plant in March 2022 but hasn’t been shipping gas to BP and other energy giants that agreed to deals of 10 years or more, saying the contracts aren’t in effect yet because the facility remains in startup, or commissioning, phase. Instead, the company has sold cargoes into the spot market, where prices are significantly higher. Read full article

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