Following our recent articles on 26 August and 22 October on the ongoing disputes between Venture Global and its anchor buyers at the Calcasieu Pass LNG liquefaction facility, another arbitral decision has been made public.
In Venture Global Calcasieu Pass LLC (Venture Global) v. Repsol LNG Holding, S.A., an International Chamber of Commerce tribunal found in favour of Venture Global “in its entirety”.[1] In a Securities and Exchange Commission filing made by its parent company, Venture Global Inc., on 21 January 2026, it was announced that the tribunal had found that Venture Global acted as a “reasonable and prudent operator” in declaring the facility operational in April 2025 and had acted in accordance with the sale and purchase agreement entered into between the parties. Repsol’s claims were denied in their entirety.
Of the decisions which have now been publicly announced, this award marks two wins out of three for Venture Global in its series of disputes with the anchor buyers of LNG cargoes from its facility in Louisiana. It is understood that in total seven cases have been brought against Venture Global based on an alleged failure to provide term deliveries to each of those anchor buyers under long-term supply agreements.
It is unknown whether each of those agreements were in identical terms, although it is understood that all were derived from industry standard forms. The existence of two successful awards for Venture Global may influence the outcome of the remainder of these cases or lead to their compromise. However, the precise terms of each of the supply agreements will be key. This serves as another reminder to ensure that contractual terms are as clear as possible, with adequate consideration given to the rights and obligations for both buyers and sellers during the commissioning period.
[1] SEC filing, 21 January 2026.
