Venture Global: arbitration partial award in Galp dispute, $170,000,000 cap

What happened The filing says that on Oct 7, 2026 the International Chamber of Commerce International Court of Arbitration informed Venture Global Calcasieu Pass, LLC ("VGCP") that a partial final award had been issued in the arbitration with Galp Trading S.A. The arbitration tribunal, acting primarily as a majority, found that VGCP breached its obligation to declare commercial operation date ("COD") of the Calcasieu Project in a timely manner under the long-term SPA; remedies will be determined in a separate damages hearing anticipated in 2027 or 2028, and a final award is expected after the damages portion. One of the three arbitrators issued a separate dissent disagreeing with the majority.

Key details

• The filing says the final award will be subject to the $170,000,000 seller aggregate liability cap in the SPA.
• The filing says a damages hearing has not been scheduled but is anticipated in 2027 or 2028; a final award will follow the damages portion.
• The filing notes that twenty cargos have been delivered to Galp to date from the Calcasieu Project since the COD occurred on Apr 15, 2025.
• The filing says the company is evaluating available options and will continue to defend its position.

Why it may matter

• Item reported: Item 7.01 (Regulation FD disclosure), which covers public disclosure of material information about the company. This filing does not show why the insider traded or why the company acted.