Venture Global Suffers Loss in Arbitration Case Against BP

BP and other long-term buyers have accused Venture Global of withholding contracted cargoes of liquified natural gas after Russia’s invasion of Ukraine sent natural-gas prices soaring, and of instead selling them on the spot market to enrich itself. Venture Global said in a regulatory filing that the International Court of Arbitration had issued a partial final award to BP. Separately, Venture Global said it had reached a settlement with another long-term customer that it didn't name.

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