financetom
Business
financetom
/
Business
/
US asks Venture Global LNG to justify confidentiality of Calcasieu filings
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US asks Venture Global LNG to justify confidentiality of Calcasieu filings
Mar 13, 2024 1:49 PM

HOUSTON, March 13 (Reuters) - The U.S. Federal Energy

Regulatory Commission on Wednesday asked Venture Global LNG to

explain why reports on its Calcasieu Pass LNG plant need to be

kept confidential as customers complained about a lack of

transparency.

The Louisiana production and export facility has been since

2022 in the commissioning stage, a process that typically takes

months. FERC gave Venture Global five days to respond.

Venture Global's customers have protested to FERC that they

have not received sufficient explanations for the commissioning

delay, which they say has cost them billions of dollars in

profit.

They also said the company's decision to file documents on

plant construction and repairs to the energy regulator

confidentially under national security provisions deprived them

of key information.

The Arlington, Virginia-based LNG exporter has previously

said it will not provide its customers with the privileged

documents unless FERC requires it.

The FERC request comes days after Venture Global customers

challenged the company's request for a one-year extension of its

startup process and urged regulators to make Venture Global

release the confidential commissioning documents.

Shell PLC ( SHEL ), BP PLC, Italian utility Edison

, Repsol, Orlen SA ( PSKOF ) and Galp Energia

SA believe Venture Global has completed the plant and

is selling its LNG on the spot market, depriving them of sales.

PROTECTIVE ORDER

Venture Global "remains committed to compliance with all

FERC requirements" and will promptly provide a request for a

protective order at Calcasieu Pass laying out grounds for

confidentiality, a company spokesperson said on Wednesday.

Such orders have not previously been necessary because there

were no objections involving the plant, the spokesperson said.

Shell, one of the companies that has asked FERC to make the

documents public, disagreed and hopes the regulator will bar

further unnecessary confidential filings, a spokesperson said.

Venture Global's making Calcasieu Pass filings non-public

for nearly a decade does not meet regulations and "is consistent

with company's complete disregard for transparency," the Shell

spokesperson said.

Repsol and Galp said they were unable to take a position on

the extension request because the lack of access to the

documents made it impossible to assess the merits.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Italy may look into taking Nexi private amid resistance to Worldline tie-up
Italy may look into taking Nexi private amid resistance to Worldline tie-up
Feb 26, 2025
* Expects France to oppose needed job cuts in any tie-up * Worldline has 18,000 employees vs Nexi's 10,500 * Italy would consider option of privatising Nexi with co-investors * EU has seen a Worldline-Nexi tie-up as way to rival giant US payments companies like PayPal ( PYPL ) * Worldline shares slump after lower-than-forecast revenue (Adds reference to Worldline...
Lantheus Q4 Adjusted Earnings Decline, Revenue Increases; 2025 Outlook Issued
Lantheus Q4 Adjusted Earnings Decline, Revenue Increases; 2025 Outlook Issued
Feb 26, 2025
07:24 AM EST, 02/26/2025 (MT Newswires) -- Lantheus ( LNTH ) reported Q4 adjusted earnings Wednesday of $1.59 per diluted share, down from $1.75 a year earlier. Analysts polled by FactSet expected $1.54. Revenue for the quarter ended Dec. 31 was $391.1 million, compared with $354 million a year earlier. Analysts polled by FactSet expected $376.1 million. The company said...
Madrigal Pharmaceuticals' Q4 Net Loss Narrows, Revenue Tops Estimates
Madrigal Pharmaceuticals' Q4 Net Loss Narrows, Revenue Tops Estimates
Feb 26, 2025
07:25 AM EST, 02/26/2025 (MT Newswires) -- Madrigal Pharmaceuticals ( MDGL ) reported a Q4 net loss Wednesday of $2.71 per diluted share, narrowing from a loss of $5.68 a year earlier. Analysts polled by FactSet expected EPS loss of $3.92. Revenue for the quarter ended Dec. 31 was $103.3 million. Analysts surveyed by FactSet expected $99.1 million. As of...
Crucial Nvidia results to set the course for faltering 'Magnificent Seven'
Crucial Nvidia results to set the course for faltering 'Magnificent Seven'
Feb 26, 2025
By Aditya Soni (Reuters) - Nvidia's ( NVDA ) much-awaited results - seen as a barometer of AI chip demand - on Wednesday could prove to be an inflection point for artificial intelligence stocks as technology companies tighten data center spending. Investors have raked in big returns over the last few years from the AI boom that has accrued largely...
Copyright 2023-2026 - www.financetom.com All Rights Reserved