Venture Global receives adverse partial award in BP arbitration; BP seeks >$1B damages

Venture Global, Inc.

ICC tribunal found VGCP breached SPA obligations on timely COD declaration and prudent operator standard.
BP claims damages exceeding $1.0B plus interest and costs; damages hearing expected in 2026.
Company does not expect seller aggregate liability cap in SPA to limit final award amount.
Venture Global disappointed, evaluating options; 14 LNG cargoes delivered to BP under SPA to date.
Venture Global resolved another post-COD SPA customer arbitration with no material impact.

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