CERAWEEK-Venture Global wants to settle pending arbitration cases with energy companies

HOUSTON, March 23 (Reuters) - Venture Global wants to settle pending arbitration cases with energy companies that sued it over the failure to provide them with LNG in a timely manner from its Calcasieu Pass facility, CEO Mike Sabel said Monday during a roundtable discussion on the sidelines of the CERAWeek conference in Houston.

Venture Global expects to produce CP2 at 150% of name plate capacity starting next year, he said, adding that the company wants to sell more LNG on five-year contracts from commissioning cargoes. The company could add 40 million metric tons per annum of LNG from proposed expansions to its Plaquemines and CP2 plants, Sabel continued.

Sabel said that even though the company has been granted permission by the U.S. Department of Energy to increase its LNG exports, he does not expect any more production than what was already planned for the rest of the year.