Venture Global Calcasieu Pass breaches Galp LNG contract in arbitration partial award, liability capped at $170 million

• An ICC arbitration tribunal issued a partial final award finding Venture Global’s Calcasieu Pass unit breached its LNG SPA with Galp.
• The tribunal found a failure to declare commercial operations on time under the Calcasieu project contract.
• Damages will be set in a separate hearing expected in 2027 or 2028; a final award will follow.
• Any final damages award is subject to a USD 170 million aggregate liability cap under the SPA.
• One arbitrator dissented; the ruling does not change current SPA performance, with 20 cargoes delivered to Galp.

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