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ICC tribunal finds Venture Global breached LNG contract with Galp, subject to $170M liability cap
VGVenture Global, Inc.
The International Chamber of Commerce’s arbitration tribunal issued a partial final award finding that Venture Global Calcasieu Pass LLC breached its long-term sales and purchase agreement with Galp Trading S.A. by failing to declare commercial operation date for the Calcasieu Project in a timely manner. A separate damages hearing is anticipated in 2027 or 2028, with any final award capped at $170 million under seller liability provisions. The company disputes the ruling and is evaluating its options while continuing deliveries under the existing contract terms. Venture Global operates as an independent developer of liquefied natural gas export facilities.