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To date, BP is the only Calcasieu Pass customer that won its arbitration case against Venture Global over the commercial launch of the Calcasieu Pass facility.
The New York Supreme Court just rejected Shell’s appeal in its arbitration case against Venture Global, while Venture Global also won an arbitration case against Spanish energy firm Repsol.
Venture Global also settled its dispute with China’s Unipec, a unit of Sinopec.
Other Calcasieu Pass customers include Galp, Edison, PGNiG, now part of Orlen, and CNOOC.
BP damages
Venture Global previously said that BP was seeking more than $1 billion in damages.
However, the LNG producer now revealed further details regarding the proceedings in its annual results report filed with the SEC.
Venture Global noted that remedies were not addressed in the partial final award in October 2025 and will be determined in a separate damages hearing, which has not been scheduled but is anticipated to occur in 2026 or 2027.
A final award is expected to be issued following the damages portion of the hearing.
Based on the terms of the award, Venture Global does not anticipate that the final award “will be subject to the seller aggregate liability limitation in the BP post-COD SPA.”
“The remedies sought by BP include damages ranging from $3.7 billion to potentially in excess of $6 billion, as well as interest, costs, and attorneys’ fees,” Venture Global said.
“We believe BP’s theory and calculations of damages are without merit and that the magnitude of damages sought by BP is not recoverable under the express terms of the post-COD SPA, which include express limits on the tribunal’s jurisdictional authority, although there can be no assurance as to the outcome of the damages portion of the hearing,” it said.
More than $3.9 billion
Venture Global also said that three other Calcasieu Pass cusotmers are seeking total damages in excess of $3.9 billion.
In May 2023, one long-term customer of the Calcasieu project submitted a request for arbitration to the London Court of International Arbitration.
Venture Global said that the remedies sought by such long-term customer include damages of approximately $1.5 billion (which is potentially subject to increase with the passage of time), rather than the termination of the post-COD SPA.
The hearing for such arbitration proceeding occurred in October 2024 and an award is anticipated in 2026, it said.
Moreover, one additional long-term customer of the Calcasieu Project submitted a request for arbitration to the ICC in November 2023.
This customer has also disputed that the delay to COD constitutes a force majeure event in the context of their arbitration proceedings.
Venture Global said the customer is currently seeking remedies in excess of $400 million.
The hearing for this arbitration proceeding took place in June 2025 and an award is anticipated in 2026, it said.
In December 2023, one additional long-term customer of the Calcasieu Project submitted a request for arbitration to the ICC.
Venture Global said the remedies sought by this customer include damages in excess of $2 billion.
