Published on 15 Nov 2023 on Zacks via Yahoo Finance
BP Requests US and EU Help in Venture Global LNG Dispute
BP plc BP and Shell plc SHEL have sought the intervention of the U.S.-EU Task Force on Energy Security in a dispute with Venture Global LNG regarding the commencement of commercial operations at the Calcasieu Pass plant.
The companies have alleged misconduct by Venture Global, accusing it of withholding cargo that was agreed upon under long-term supply contracts. Instead, the provider is purportedly selling LNG on the spot market.
In March 2023, Venture Global reported that it had dispatched 128 commissioning cargoes from its Calcasieu Pass plant in Louisiana since the first quarter of the previous year. The majority of these cargoes were shipped to Europe.