BP won its arbitration case against Venture Global regarding the delayed start-up of the commercialization of the Calcasieu Pass project.
It was a surprising victory, given that Venture Global had come out on top in another arbitration case against Shell earlier this summer. The decision now raises an array of questions regarding Venture Global’s arbitration cases, along with its current policy to have very lengthy commissioning processes.
BP is seeking more than $1 billion in damages plus interest and legal costs. The final amount will be determined in a separate hearing in 2026. Venture Global had previously stated that losing current or future arbitration cases could result in significant financial penalties and the termination of some gas supply contracts.
Venture Global’s Calcasieu Pass commissioning took more than three years and the company is following a similar process with its Plaquemines terminal.
The Plaquemines terminal began taking feedgas in November 2024 and is nearly at full operations, but Venture Global recently filed with FERC requesting an extension of the commissioning work for the project until the end of 2027.
