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Venture Global Will Not Begin LNG Deliveries to Italy’s Edison Until 2025

2024-10-15 11:18

Wedoany.com Report-Oct 15,  Italian energy group Edison (EDNn.MI),said on Monday that U.S. gas exporter Venture Global LNG told it not to expect contract cargoes from its Louisiana export facility until April 2025.

Edison is among companies including Shell (SHEL.L),  BP (BP.L), and Repsol (REP.MC), that have filed contract arbitration cases against Venture Global for its failure to deliver contract cargoes, more than two years after it started exporting LNG from the Calcasieu Pass LNG plant.

Edison in September 2017 signed a 20-year contract to receive LNG from the project but has not received any of the cargoes. Venture Global has sold cargoes from the project to others since March 2022, it said.

The Arlington, Virginia, LNG exporter has said the plant has not achieved full commercial operations because of technical problems associated with a faulty power generation system.

Edison last week was told by Venture Global that first cargoes under its contract would not be available until April 2025 at the earliest, Edison said in a press release on Monday.

Venture was not immediately available for comment.

The Louisiana facility has produced, exported and sold 355 cargoes to the higher-priced spot market and generated more than $20 billion in revenue, Edison said.

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