HOUSTON, Jan 29 (Reuters) - Venture Global LNG

could finish power generator repairs by the end of February, a

federal inspection report said on Wednesday, potentially

clearing the way for the almost three-year commissioning of the

Calcasieu Pass LNG plant to reach completion.

Venture Global ( VG ) is the most valuable U.S. LNG company

following its initial public offering on Thursday. It has blamed

its inability to deliver cargoes from Calcasieu Pass to its

long-term customers on equipment failures and the unreliability

of its power generators.

The delays led to contract arbitration cases brought by some

of the world's top oil and gas producers, including BP,

Shell, Edison, Orlen ( PSKOF ) and Repsol

.

A "fifth and final" generator project was under way "and

completion is expected by February 2025," inspectors from the

Federal Energy Regulatory Commission said on Wednesday in a

regulatory filing.

The inspection was conducted one week ago and found Venture

Global ( VG ) had made so much progress that a temporary fix suggested

by FERC was no longer necessary, the inspection report said.

Venture Global ( VG ) was not immediately available for comment.

Shell said it was waiting for its cargoes to be delivered.

"For almost two years we've been told by Venture Global ( VG ) that

deliveries were forthcoming. It's never happened. They have

proven to be an unreliable supplier and, until we receive our

contracted cargoes, we will continue to view them that way," a

Shell spokesperson told Reuters.

A Repsol spokesperson said it had no further information on

timing.

Venture Global ( VG ) has said it expects to move from

commissioning to commercial operations at Clacasieu Pass by the

end of the first quarter of 2025.