Finance
Venture Global rises after arbitration win in case brought by Spain's Repsol
Published by Global Banking and Finance Review
Posted on January 22, 2026
2 min readLast updated: January 22, 2026
Quick Summary
Venture Global's shares rise after winning arbitration against Repsol, affirming its LNG contract compliance.
Venture Global Shares Jump Following Arbitration Victory Over Repsol
Venture Global's Arbitration Success
By Vallari Srivastava
Details of the Arbitration Case
Jan 22 (Reuters) - Venture Global's shares surged nearly 8% on Thursday after an arbitration tribunal ruled in favor of the U.S. liquefied natural gas supplier in a dispute with Spain's Repsol.
Market Reaction and Future Outlook
Repsol brought the case in 2023 over Venture Global's initial failure to deliver LNG from its Calcasieu Pass project under a 20-year long-term contract.
Pending Claims Against Venture Global
The Paris-headquartered International Chamber of Commerce denied Repsol's claims in their entirety and found that the U.S. company had acted as a "reasonable and prudent operator" in accordance with the agreement.
Venture Global, the second-largest LNG exporter in the U.S., has won two of three decisions released on arbitrations brought against it in 2023.
The company received a positive tribunal decision in a similar arbitration against Shell in August last year. However, in October, the tribunal ruled against Venture Global in proceedings against BP.
Other companies, including Italy's Edison and Portugal's Galp, have also filed claims against Venture Global that are still pending.
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.
Venture Global said it had fully honored the terms of its long-term contracts and was confident it would win the remaining cases.
UBS analyst Manav Gupta told Reuters additional arbitration results related to proceedings with Edison, Galp and Orlen were expected to be released in 2026 and 2027.
Venture Global's market capitalization has fallen from roughly $58 billion in January last year, when it went public, to about $22.16 billion as of Wednesday's close.
The stock remains depressed due to the arbitration overhang, UBS analysts said, adding that the win against Repsol should be a big relief for investors.
(Reporting by Vallari Srivastava and Pranav Mathur in Bengaluru; additional reporting by Puyaan Singh; Editing by Pooja Desai)
Key Takeaways
- •Venture Global wins arbitration against Repsol.
- •Shares surge nearly 10% in premarket trading.
- •Tribunal finds Venture Global acted prudently.
- •Pending claims from Edison, Galp, and Orlen.
- •Market cap fell from $58 billion to $22.16 billion.
Frequently Asked Questions about Venture Global rises after arbitration win in case brought by Spain's Repsol
1What is liquefied natural gas (LNG)?
Liquefied natural gas (LNG) is natural gas that has been cooled to a liquid state for ease of storage and transport. It is a key energy source used globally.
2What is market capitalization?
Market capitalization is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the stock price by the total number of shares.
3What is a tribunal in arbitration?
A tribunal in arbitration refers to the panel of arbitrators who are appointed to resolve a dispute. They review evidence, listen to arguments, and make a binding decision.
