Venture Global CEO said global LNG price fluctuations will be very short-term

Mike Sabel, CEO of Venture Global, the second largest liquefied natural gas exporter in the United States, said at the Indo-Pacific Energy Security Forum and Commercial Forum in Tokyo that the global fluctuations in liquefied natural gas prices caused by the Middle East crisis are "very short-term". "The market fluctuations are huge," Sabel said. "However, we believe this is only short-term, and we are very optimistic about the market's medium to long-term strength, market fairness, and supply capacity. We expect liquefied prices to remain stable in the long term." Venture Global announced on Friday that it will continue to advance the second phase of its CP2 liquefied natural gas project in Louisiana. Sabel said, "On the basis of the 4 million tons of liquefied natural gas in the first phase, we will add another 10 million tons of liquefied natural gas." "We expect that the first and second phase projects will actually begin producing initial energy next year, which will quickly have a significant impact on fuel market prices."