Venture Global wins arbitration case against Shell
Venture Global has won a legal battle with Shell over its failure to deliver liquefied natural gas under long-term contracts from the Calcasieu Pass plant, Louisiana, starting in 2023.
Venture Global was accused of profiteering by selling commissioning cargoes at higher spot market prices, rather than at long term contracted prices.
The Arlington-based company denied the claim, saying it delayed moving to commercial operations because of a faulty electric system.
In a statement, Venture Global said, “We are pleased with the tribunal’s determination which reaffirms what Venture Global has maintained from the outset – the plain language in our contracts, mutually agreed upon with all of our customers, is clear. We have consistently honoured these agreements without exception.
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