Shell challenges Venture Global Arbitration Decision in New York Supreme Court

Shell is appealing its loss in a case against U.S. liquefied gas producer Venture Global at the New York Supreme Court. This comes weeks after BP won a $1 billion arbitration.

The dispute arose from Venture Global's failure of to deliver liquefied gas under long-term agreements starting in 2023. Shell claims in a new filing that Venture Global hid information from Shell and to the arbitration tribunal.

Shell confirmed that the filing was made Monday.

Shell, BP, Edison, and Galp, among others, filed arbitration claims in 2023 accusing Venture Global that it profited from the sale on LNG at the spot market, while failing to deliver the contracted cargoes of LNG from the Calcasieu Pass Export Facility in Louisiana.

Shell lost in August while BP won in October.

Venture Global didn't immediately respond to an inquiry for comment about Shell’s challenge on Tuesday.

Five sources familiar with the issue told us that BP had won the arbitration case based on an argument of unfair behavior by the U.S. firm. Reporting by Francesca Landini and Stephanie Kelly; Editing by Joe Bavier, Susan Fenton and Susan Fenton

(source: Reuters)