Venture Global Strikes Back at Shell in LNG Arbitration Case

Core Viewpoint - Venture Global asserts that Shell lacks evidence of any wrongdoing related to the arbitration case, following Shell's appeal against a previous court ruling that favored Venture Global [1]. Group 1: Arbitration Case Details - Shell has challenged an earlier ruling by citing a third party's testimony that Venture Global postponed the commissioning of its second LNG facility unexpectedly [2]. - Venture Global refutes Shell's claims, stating that no evidence of contract violation has been provided and denying any misleading statements [3]. - Shell and other major firms accused Venture Global of profiting from higher spot market LNG sales that should have been supplied under long-term contracts, exploiting a loophole by delaying the commissioning of the Calcasieu Pass export project [4]. Group 2: Rulings and Developments - In August, Shell lost the arbitration case against Venture Global, with the tribunal ruling that Venture Global did not violate its contractual obligations [5]. - Venture Global contends it was not obligated to fulfill long-term commitments until the plant was officially commissioned, which occurred earlier this year [5]. - The arbitration case brought by BP against Venture Global ended favorably for BP, prompting Shell to challenge the ruling in its own case [6].