Venture Global (VG) has prevailed in an arbitration case against Shell (SHEL), which claimed the company withheld LNG cargoes and sold them for profit, The Wall Street Journal’s Benoit Morenne reports. Shell had been seeking $1.7B in the arbitration case, while other companies have similar cases, totaling up to $7.4B, against Venture. A Shell spokeswoman said the company was disappointed with the outcome but respected the tribunal’s decision. “Trust in long-term contracts is the bedrock of the LNG industry and essential for continued investment and sustainable growth,” the spokeswoman said.
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