Venture Global, a U.S.-based LNG producer, reported a 69% increase in average liquefaction fees in the second quarter, driven by higher global LNG prices following the Iran war.
The company’s implied weighted average fixed liquefaction fee was $6.45 per million British thermal units (MMBtu) in the quarter ended June 30, up from $3.82 per MMBtu in the first quarter.
The increase in fees reflects a blend of higher prices the company received for commissioning cargoes sold on the spot market and under short-term contracts, as well as lower-priced volumes sold under long-term agreements.
Venture Global sold and recognized revenue on 466.4 TBtu of LNG during the second quarter, down slightly from 480.8 TBtu in the previous quarter.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
