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Venture Global (VG) CEO says BP (BP/ LN) has raised the quantum of its damages claim in its arbitration case

This update from Venture Global sheds light on its position in the LNG market and highlights an escalating claim from BP in their arbitration.

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Venture Global (VG) CEO says BP (BP/ LN) has raised the quantum of its damages claim in its arbitration case

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Venture Global (VG) CEO says operation and maintenance cost 30% lower than industry standards and expects to double its LNG exports by 2029

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  • Can increase peak production from its plaquemines and CP2 plants from 28mln metric tonnes per annum to 35mtpa.
  • Venture Global has the largest amount of LNG cargoes available and is ready to help stabilise LNG markets in the midst of Qatar LNG challenges.
Context

The ability to increase LNG production significantly may position Venture Global favorably, particularly as it seeks to stabilize markets affected by disruptions elsewhere. Watch for potential impacts on LNG pricing and BP's operations as the arbitration unfolds.

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