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Venture Global LNG to buy fleet of LNG vessels
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Venture Global LNG to buy fleet of LNG vessels
Mar 17, 2024 2:09 PM

March 17 (Reuters) - Venture Global LNG on Sunday said

it will acquire a fleet of liquefied natural gas (LNG) vessels.

The nine vessels will be constructed in South Korea and the

Arlington-based company said the move will deepen its

involvement throughout the LNG value chain.

The move advances "the integration of our business

across the entire LNG supply chain," said Venture Global's CEO

Mike Sabel.

The company has been embroiled in a dispute with its

customers over its failure to deliver cargoes because of what it

says are electrical problems.

Customers, including BP, Shell, Edison

, Repsol, Galp, Unipec and Orlen ( PSKOF )

, have initiated arbitration proceedings against Venture

Global and have pressed federal regulators to allow them to see

confidential commissioning documents.

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