Venture Global accuses Shell in FT report of a campaign to harm the LNG business

According to a Financial Times staff note published on Wednesday, Venture Global, a U.S. LNG manufacturer, accused Shell of waging "a three-year campaign" against its business. This was after Shell appealed a loss in arbitration. The report could not be verified immediately. Venture Global and Shell didn't immediately respond to our request for comment.

The email, seen by the FT, from co-founders Michael Sabel & Robert Pender criticized Shell for its "misguided" decision to challenge the ruling & said Venture Global will continue to defend themselves.

The note also highlighted recent deals worth $28 billion with customers in Japan and Greece, calling the company the world's biggest LNG producer.

Shell has been announcing its latest products.

A challenge to the arbitration decision can be brought in New York State Court.

Shell has also been a separate company.

ordered

To pay Venture's legal costs following a recent arbitration loss on LNG supply claims.

The two cases were based on Venture Global failing to deliver LNG as per long-term contracts, while selling cargoes at spot prices after Russia's invasion of Ukraine in 2022.

Venture Global won an August case against Shell before the International Chamber of Commerce, but

In October, BP was sued for more than $1 billion.

Venture Global faces a number of challenges

Arbitration claims

Shell, BP, and other European buyers alleging breach of contract after the company sold LNG at the spot market during 2022's energy crisis.

(source: Reuters)