BP’s $1 billion-plus arbitration win over Venture Global is now being closely watched across the LNG sector—including here in Louisiana, Reuters writes.
New reporting indicates BP won by arguing that Venture Global engaged in unfair behavior by withholding contracted LNG cargoes while selling more than 400 loads on the spot market during the post-Ukraine price spike.
Shell lost a similar arbitration because it didn’t use that argument—and four more companies are now pursuing billions in parallel claims that could ripple through pricing, contract risk and future LNG offtake negotiations tied to Gulf Coast growth.
Venture Global maintains Calcasieu Pass was still in ramp-up mode and not obligated to deliver long-term cargoes at the time. A hearing to determine BP’s actual damages is still pending—but this case signals argument framing could decide who gets paid next.
