US liquefied natural gas (LNG) firm Venture Global will not start delivering LNG to Italy’s Edison until April 2025 at the earliest, leading Edison to initiate international arbitration for breach of a 2017 contract.
Edision has been told that technical facilities at Venture Global’s Calcasieu Pass facility in Louisiana are the reason for the delays. However, it notes that Venture Global has already exported 355 cargos to the high-priced spot market and generated more than $20bn in revenues.
Read more: Venture Global launches the first on nine LNG vessels
As a consequence of Venture Global’s failure to commence deliveries, Edison has commenced international arbitration against Venture Global for breach of contract.
