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The U.S. Department of Energy rejected a request Tuesday by Spanish oil producer Repsol (OTCQX:REPYF) (OTCQX:REPYY) to intervene in its dispute with Venture Global LNG over delays in natural gas shipments from its export terminal in Louisiana.
The DoE said it has no role in commercial disputes and does not determine the operational status of LNG export projects.
Repsol (OTCQX:REPYF) (OTCQX:REPYY) had asked the DoE reopen the Federal Energy Regulatory Commission’s approval of the Calcasieu export plant in view of accusations that Venture Global LNG has held back contracted shipments in order to sell that liquefied natural gas on the spot market at vastly inflated prices.
BP (BP) and Shell (SHEL) have separately pressed a U.S.-E.U. task force on energy security to intervene in the dispute.
Venture Global LNG has been in dispute with customers for nearly a year over delays in completing Calcasieu Pass, claiming faulty power equipment it says will delay commercial operation until year-end 2024.
