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BP seeks at least $3.7 billion from Venture Global arbitration, filing says
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BP seeks at least $3.7 billion from Venture Global arbitration, filing says
Mar 11, 2026 6:53 AM

LONDON, March 6 (Reuters) - BP is seeking at

least $3.7 billion from its arbitration win against Venture

Global ( VG ) in a case concerning liquefied natural gas (LNG)

cargoes, Venture Global's ( VG ) annual report shows.

The remedies sought by BP include damages ranging from $3.7

billion to potentially in excess of $6.0 billion, as well as

interest, costs and attorneys' fees, said the report, which was

released this week.

BP declined to comment, while a Venture Global ( VG ) spokesperson

said the British oil major's requested damages are "unserious

and not supported by evidence or controlling law".

BP, Shell, Unipec, Edison, Galp

, Repsol and Orlen ( PSKOF ) all took Venture

Global ( VG ) to arbitration in one of the biggest disputes in the

history of the LNG industry.

In October, BP won its case over Venture Global's ( VG ) failure to

deliver LNG under a long-term contract that was due to start in

late 2022.

The International Chamber of Commerce (ICC) International

Court of Arbitration found that Venture Global ( VG ) breached its

obligations to declare commercial operations had begun at the

Calcasieu Pass plant in a timely manner and act as a "reasonable

and prudent operator," Venture Global ( VG ) said in a regulatory

filing at the time.

Venture Global ( VG ), the second largest LNG exporter in the U.S.,

has won two out of the three arbitrations brought against it.

It prevailed in an arbitration brought against it by Shell

and won a subsequent court challenge from Shell over the

arbitration award.

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