Shell Drags Venture Global To New York Supreme Court Over Disputed LNG Contracts

Shell PLC (NYSE:SHEL) on Tuesday reportedly filed an appeal in the New York Supreme Court challenging its loss in an arbitration dispute with Venture Global, Inc. (NYSE:VG).

Reuters says that in its filing, Shell claims Venture Global concealed key information from both the company and the arbitration panel.

Notably, in August, Venture Global announced the favorable tribunal ruling in its arbitration with Shell, stating that the decision confirms its contracts, agreed upon with all customers, have been consistently honored.

Also Read: Shell Secures 15-Year LNG Deal With UAE’s ADNOC

Dispute Centers on LNG Supply

The case centers on Venture Global’s alleged failure to supply liquefied natural gas (LNG) under long-term contracts that began in 2023.

For the last few years, Venture Global LNG’s Calcasieu Pass plant has been central to a prolonged dispute between energy companies, including BP PLC (NYSE:BP) and Shell, regarding access to LNG from the facility.

In November 2023, Shell, along with BP and Edison International (NYSE:EIX), reportedly asked a U.S.-EU energy group to intervene in their ongoing dispute with LNG exporter Venture Global over its failure to supply contracted cargoes.

Last month, the International Chamber of Commerce (ICC) issued a partial final award in the arbitration with BP Gas Marketing Limited related LNG sales under the long-term sales and purchase agreement (SPA) from the Calcasieu Project.

Earnings Snapshot

Last month, Shell reported mixed third-quarter fiscal 2025 results, with adjusted earnings per American Depositary Share of $1.86, beating the $1.71 consensus estimate.

However, revenue fell short at $68.15 billion, compared with analysts’ forecast of $72.81 billion.

Price Action: SHEL shares were trading lower by 0.34% to $76.30 premarket at last check Tuesday. VG was up 0.12%.

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