(Reuters) – Shell CEO Wael Sawan said on Tuesday he expects to have updates from the arbitration process with Venture Global in the coming months. Venture Global’s failure to move to commercial operations years after it started selling superchilled gas on the spot market led to contract arbitration cases brought by some of the world’s […]
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Shell CEO Sawan expects progress in Venture Global arbitration in coming months
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(Reuters) – Shell CEO Wael Sawan said on Tuesday he expects to have updates from the arbitration process with Venture Global in the coming months.
Venture Global’s failure to move to commercial operations years after it started selling superchilled gas on the spot market led to contract arbitration cases brought by some of the world’s top oil and gas producers, including BP, Shell, Italy’s Edison and Orlen and Repsol.
Venture Global, whose $58 billion market debut fell short of high expectations in January, began generating proceeds in 2022 with its Calcasieu Pass facility.
Sawan during Shell’s capital markets day in New York City said that Venture Global has already delivered 400 cargoes from its Calcasieu Pass project.
(Reporting by Arunima Kumar and Shadia Nasralla in Bengalulru and Stephanie Kelly in New York)