bp Gas Marketing Ltd. has won its arbitration case against Venture Global LNG Inc. related to offtake from the latter’s 10-million tonne/year Calcasieu Pass LNG plant.
The International Chamber of Commerce (ICC) Court of Arbitration informed Venture Global Oct. 8, 2025, that a partial final award had been issued regarding sales from the plant under the long-term LNG sales agreement between the two companies.
The award issued by the arbitration tribunal found that Venture Global had breached its obligations to declare the commercial operation date of the Calcasieu Pass plant in a timely manner and act as a “Reasonable and Prudent Operator” pursuant to the sales agreement.
Among other remedies, bp is seeking damages in excess of $1.0 billion, as well as interest, costs, and attorneys’ fees, according to a Securities and Exchange Commission filing by Venture Global. Remedies will be determined in a separate damages hearing, which has not been scheduled but is anticipated to occur in 2026. A final award is expected to follow the damages portion of the hearing.
Venture Global said that it is disappointed by the arbitration tribunal’s decision in the proceeding with bp, which it believes “contradicts the decisive findings in the prior arbitration involving Shell PLC and the facts verified by independent third parties and regulatory agencies with oversight of the Calcasieu Project.”
Venture Global also said it is evaluating all available options in response to the tribunal’s ruling and “will continue to vigorously defend” its position, noting that 14 cargos had been delivered to bp to date from Calcasieu Pass, pursuant to the agreement between the two companies.
