Link Securities | The International Court of Arbitration of the International Chamber of Commerce (ICC) has ruled against Repsol (REP) in the arbitration it brought against Venture Global for breach of liquefied natural gas (LNG) supply contracts, according to Bolsamanía.”The award issued by the arbitration tribunal found that Venture Global Calcasieu Pass, an indirect subsidiary of Venture Global, had acted as a “reasonable and prudent operator in accordance with the long-term LNG purchase agreement and denied Repsol’s claims in their entirety”.
This was stated in the press release sent to the United States Securities and Exchange Commission (SEC). In addition, the arbitration tribunal awarded fees to Venture Global Calcasieu Pass.
