Venture Global issued the following statement in response to the positive tribunal decision on the arbitration proceeding with Shell:
“We are pleased with the tribunal’s determination which reaffirms what Venture Global has maintained from the outset--the plain language in our contracts, mutually agreed upon with all of our customers, is clear. We have consistently honored these agreements without exception. Our industry and the investors and lenders who underpin it, all rely on respect for both the sanctity of negotiated contracts and the experienced, objective regulatory and legal bodies that govern it. These principles will ensure our industry remains dynamic, fair and competitive, enabling the innovation and breakthroughs that benefit all market participants and the customers we serve.
Venture Global’s unique ability to incrementally export commissioning cargoes during the construction of our facilities has brought LNG to the market years faster than ever before and strengthened global energy security. The world needs more abundant, low-cost energy and our company looks forward to playing a leading role in meeting that demand for years to come.”
