Venture Global Calcasieu Pass breached Galp LNG contract in arbitration partial award, liability capped at $170 million
VG•An ICC tribunal found Venture Global’s Calcasieu Pass unit breached its LNG contract with Galp by failing to declare commercial operations on time. Damages will be determined in a separate hearing expected in 2027 or 2028, with any final award subject to a $170 million cap; 20 cargoes have been delivered to Galp.
1. Arbitration ruling
An ICC arbitration tribunal issued a partial final award finding that Venture Global’s Calcasieu Pass unit breached its LNG sales and purchase agreement with Galp by failing to declare commercial operations on time. Damages will be set in a separate hearing expected in 2027 or 2028, and any final award is subject to a $170 million aggregate liability cap. One arbitrator dissented. The ruling does not change current contract performance, and 20 cargoes have been delivered to Galp.
