Venture Global and Edison resolve arbitration dispute regarding early Calcasieu Pass gas sales

Venture Global and Edison announced on Thursday that?they?had?reached an agreement in order to settle a longstanding arbitration dispute relating to allegations that the American exporter liquified natural gas had failed to deliver contractual shipments to the Italian firm.

The Edison settlement should be completed by the end June 2026 when the arbitration is formally ended, according to a statement released jointly by the two companies.

They said that the agreement resolved the arbitration in its entirety.

Edison, BP, Shell and Repsol filed arbitration claims against Venture?Global after they accused the company of selling LNG at higher prices on the spot market following Russia's invasion in Ukraine rather than supplying the contracted volumes of LNG from the Calcasieu Pass Plant in Louisiana. Venture Global claims it was allowed to make the spot sales due to problems with a power-islanding system that delayed commercial operations.

To date, the U.S. exporter is credited with one loss, two settlements, and two victories. The shares of the company have fluctuated throughout the ordeal. More recently, they have been boosted by the ongoing Middle East turmoil that has closed down LNG capacity in Qatar.

Venture Global, as part of its agreement with Edison, will provide Edison with additional LNG cargoes, beyond the long-term contract. This is primarily for the support of deliveries to the Italian markets. The first cargo will arrive at the Adriatic LNG Terminal in May 2026. The companies stated that the agreement is a major step towards strengthening their commercial collaboration and lays a solid foundation for future deliveries in light of ongoing geopolitical turmoil.

The statement said that "both parties are pleased with this agreement as it consolidates long-term deliveries and enhances the partnership between Venture Global, and Edison."

Edison, a subsidiary?of France's EDF signed a?20-year contract to buy LNG from Venture Global in 2017, but it did not receive the first cargo until April 20,25. The company filed its arbitration case at the London Court of International Arbitration?in May 2023.

Venture Global won in August the arbitration against Shell and in January it won the case brought forth by Repsol. The only time it lost was in a ruling in October '2025 in favor of BP. Mike Sabel, CEO of Venture Global, said on Monday that the company was in talks to settle its remaining arbitration issues.

Venture Global's shares rose by 0.6% after the announcement of the deal on Thursday. The shares are up 78% in the last month.

(source: Reuters)