Venture Global purchases LNG shipping fleet

NEW YORK: Venture Global LNG Inc, the US liquefied natural gas (LNG) exporter embroiled in a dispute with several of its customers, is acquiring nine LNG carriers and expanding its sales operations to market their cargoes.

Venture Global will become the first American LNG producer to purchase a fleet rather than charter or lease vessels, with the first two ships expected to be delivered this year, founder and chief executive officer Mike Sabel said in an interview.