BP wins arbitration case against Venture Global over LNG delivery failure

BP has won its arbitration case against Venture Global over the latter’s failure to deliver liquefied natural gas (LNG) under a long-term contract that was set to commence in late 2022. The International Chamber of Commerce’s International Court of Arbitration issued a partial final award to bp related to LNG sales from the Calcasieu Project, Venture Global stated in a filing with the Securities and Exchange Commission. This award found that Venture Global breached its obligations by not declaring in a t ...