BP to Defend its Rights in Venture Global LNG Dispute
BP will defend its rights "to the absolute fullest" in an arbitration case against U.S. exporter Venture Global LNG over failing to supply contracted cargoes, Chief Executive Officer Bernard Looney said on Tuesday.Oil companies Shell SHEL.L and have separately filed for arbitration against Venture Global LNG over failing to supply contracted cargoes, even as it sold to non-contract customers while prices were soaring."You can expect us to defend our legal rights to the absolute fullest…
Shell, BP Pursue Arbitration Claims Against Venture Global LNG
Top LNG traders Shell and BP have separately filed for arbitration against U.S. exporter Venture Global LNG for failing to supply contracted cargoes, even as it sold to non-contract customers as prices soared, four people familiar with the matter said.A Venture Global LNG spokesperson did not comment on the Shell and BP claims. Last month, the company said it was in full compliance with terms of its long-term contracts and cited a need for extensive commissioning of its modular…
Mitsui O.S.K. Lines, Marubeni, NOVATEK Sign MoU for LNG Transshipment
Mitsui O.S.K. Lines (MOL) and Marubeni Corporation signed a Memorandum of Understanding (MOU) in Moscow with PAO NOVATEK, Russia's largest independent gas production and sales company, to conduct a joint feasibility study aimed at establishing an LNG transshipment and marketing complex in the Kamchatka area. This Project will create offshore infrastructure to transship LNG cargoes from ice-breaking LNG ships to standard LNG ships. The LNG will be produced in LNG projects NOVATEK is implementing in the Arctic region. The Project will ensure flexible LNG supply to the Asia-Pacific region. Marubeni and MOL will contribute not only to the mutual relationship between Japan and Russia, but to the stable supply of LNG to the Asian-Pacific region including Japan.
Novatek, Marubeni, Mitsui agree on LNG hub in Kamchatka
Russia's Novatek said on Tuesday it had signed a memorandum of understanding with Japan's Marubeni and Mitsui O.S.K. Lines to explore options for a liquefied natural gas complex in Russia's Kamchatka region. Novatek added that the action plan was to explore opportunities to establish an LNG transshipment and marketing complex at Kamchatka in Russia's far east. Novatek plans to launch its first LNG plant on Russia's Yamal peninsula next month, to export supercooled gas both to Europe and Asia. (Reporting by Katya Golubkova; Editing by Dmitry Solovyov)
