Claims in cases by eight separate companies, including some oil majors, total as much as $5.9 billion, according to the document.
The disputes stem from Venture Global’s first LNG plant in Louisiana, Calcasieu Pass, which began producing in early 2022 and is supplying cargoes in the spot market but has not delivered gas to its customers that signed up for longterm contracts. Customers still awaiting contract deliveries include Shell Plc. and BP Plc. Contractor Kiewit Corp. also filed a claim for arbitration against the company related to the build-out of its first plant.
A Venture Global spokesperson said that there was no contractual or other basis supporting the arbitration cases and that the company intends to enforce its rights as negotiated under the contracts.
The cases are pending with the International Chamber of Commerce and the London Court of International Arbitration, according to the document.
Venture Global is close to starting up its second plant, Plaquemines LNG, also in Louisiana, and looks to develop two more projects, CP2 and Delta LNG, that remain in permitting phase.
