'Bully a newcomer': Venture Global hits back as battle intensifies with supermajors - Upstream Online
'Bully a newcomer': Venture Global hits back as battle intensifies with supermajors | Upstream Online
US liquefied natural gas exporter Venture Global has upped the ante in its increasingly public dispute with LNG foundation customers, including Shell and BP, after the European heavyweights sought intervention from the joint EU-US Task Force on energy security to help resolve the matter, claiming the Calcasieu Pass LNG operator had “engaged in misconduct and refused to honour its contractual commitments… in order to engage in profiteering”.
'Bully a newcomer': Venture Global hits back as battle intensifies with supermajors
Venture Global slams long-term customers’ ‘highly coordinated attack’ on its business and reputation
14 November 2023 7:25 GMT Updated 14 November 2023 10:10 GMT
By
in Singapore
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”