Energy giant Shell has filed a lawsuit in New York Supreme Court, appealing its loss in an arbitration case against US liquefied natural gas (LNG) producer Venture Global. This move comes weeks after rival BP won an arbitration case exceeding $1 billion.
The dispute arose because Venture Global failed to fulfill its long-term contracts and deliver LNG during the period of high prices following the Ukraine war, instead profiting by selling on spot markets.
In its new filing, Shell argues that the company’s “critical evidence Claiming that it had “concealed” the arbitration decision, the company requested a reassessment. The company argued that Venture Global generated over $20 billion in revenue by selling more than 400 LNG cargoes between 2022 and 2025. BP and other energy companies (Edison, Galp) have also filed similar lawsuits. Venture Global claims that its facility is not yet fully operational and therefore does not have long-term contractual obligations. Shell, in an email statement, said, “We cannot comment while the process is ongoing due to confidentiality rules.”
