Financial ImpactBP is seeking damages in excess of $1.0 billion, as well as interest, costs, and attorneys’ fees.
Legal ChallengesThe arbitration tribunal found that VGCP had breached its obligations to declare COD of the Calcasieu Project in a timely manner and act as a 'Reasonable and Prudent Operator' pursuant to the SPA.
Strategic UncertaintyThere may be more uncertainty around whether VG’s strategy of selling cargoes while building can continue, potentially lowering profits and project IRRs.