Venture Global’s Plaquemines Phase 2 is on schedule to commence deliveries of contracted LNG cargoes, Reuters reported on September 1 citing sources familiar with the matter.

The export terminal, which is located in Louisiana about 40 km south of New Orleans, counts US supermajors Chevron and ExxonMobil as customers of its Phase 2. The expansion adds 10mn tonnes per year (tpy) of production capacity to the facility giving it a total capacity of 27.2mn tpy.

In a letter to its Phase 2 foundational customers, the Arlington-Virginia headquartered firm told buyers that deliveries remain on track to be made by the end of the second quarter of 2027.

Venture Global drew the ire of its foundational customers from its Calcasieu Pass LNG plant when it continued selling cargoes on the spot market at sky-high prices in 2022 due to Russia’s invasion of Ukraine, while withholding deliveries to European foundational customers.

The US’s second-largest LNG developer argued that it was within its contractual rights to put cargoes for sale on the spot market as its Calcasieu Pass plant was still in the commissioning phase due to faulty equipment connected to onsite power generation needing repair.

Venture Global reached a settlement with Italy’s Edison, Spain’s Repsol, and China’s Unipec. The company won its arbitration case against Shell, but lost its arbitration case against supermajor BP. The British company is seeking up to $6bn in damages from Venture Global.

The US LNG developer remains in one final arbitration case with Polish state-run firm Orlen.

Venture Global plans to expand Plaquemines LNG to a third phase, which would boost production capacity to 45mn tpy and require an investment of $18bn.

Venture Global was founded in 2013 and has had a meteoric rise to become the US’s second-largest LNG producer. Currently, only Cheniere Energy produces more super-chilled fuel in the US than Venture Global.