Galp lifted the first LNG cargo from the Global Calcasieu Pass Factory

The Portuguese Energy Company Galp Energia Galp said on Wednesday that his party raised the Liquid Natural Gas Cargo (LNG) from the VG Global VG Calcasieu Pass Export Facility in Louisiana based on an agreement signed several years ago.

The company says the cargo indicates the start of the rights of taking and obligations stipulated in the 20 -year agreement signed in 2018 for 1 million tons per year from the factory.
Delivery came the day after commercial operations finally began at the Global Calcasieu Pass Venture after more than more than the three -year commissioning process at the factory.

Venture Global shares jumped 10% in Galp News.

Galp and other European Energy companies including Shell Shel, BP BP., Orlen PKN, Edison Ednr and Repsol Rep have submitted arbitration claims that say Venture Global LNG deliberately failed to fulfill its supply contracts, dragging his feet to assign a factory so that it can profit from higher place prices.

Commissioning, or ensuring that the new factory system functions as designed, requires a month in many LNG facilities, but the process is protracted in the Calcasieu Pass due to some unexpected conditions.

This includes global pandemic, two storms and force majeure events triggered by problems with the power island, the facility, said Venture Global.
Source: Reuters