Published by Global Banking & Finance Review®
Posted on March 3, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on GoogleVenture Global shares jumped about 17% in premarket trading on March 3, 2026, after a New York court rejected Shell’s attempt to vacate an arbitration award that had favored the U.S. LNG developer.
By Vallari Srivastava and Sumit Saha
March 3 (Reuters) - Venture Global shares jumped more than 8% on Tuesday, hitting their highest level since October 10, after a New York court rejected Shell's bid to overturn an arbitration award in the U.S. LNG developer's favor. The British oil major had initially filed a complaint over Venture Global's alleged improper sale of LNG but lost the arbitration case in August. Shell challenged the ruling in November.
Justice Joel Cohen of the state Supreme Court said no additional evidence-gathering was warranted, and the court owed "substantial deference" to arbitral decisions.
"We believe the stock price remains depressed due to arbitration overhang. This news will likely be seen as a positive," UBS analyst Manav Gupta said. Other energy companies including BP, Italy's Edison, Spain's Repsol and Portugal's Galp had also filed claims against Venture Global.
The companies have accused Venture Global of profiting from selling LNG on the spot market - when prices surged after Russia's invasion of Ukraine - instead of delivering them the cargoes they had signed for years in advance.
Of the broader set of arbitration claims filed against the LNG producer, Shell and Repsol have already lost their cases, while BP won its case in October and is still awaiting a damages decision.
Venture Global shares have erased the losses incurred after losing the arbitration case with BP in October.
Including Tuesday's moves, shares of the company have surged more than 87% so far this year.
(Reporting by Vallari Srivastava and Sumit Saha in Bengaluru; Editing by Leroy Leo)
Venture Global shares surged nearly 17% after a New York court rejected Shell's challenge to an arbitration ruling that favored Venture Global.
Shell was challenging an arbitration award that favored Venture Global in a dispute over alleged improper LNG sales.
Justice Joel Cohen stated no additional evidence was needed and emphasized substantial deference to arbitral decisions.
Companies like BP, Ediscon, Repsol, and Galp have also filed claims against Venture Global over LNG delivery disputes.
The ruling pushed Venture Global shares to $13.27, aiming to erase all losses since October 9.
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