US LNG exporter accuses Shell of campaign against its business

Venture Global, an American exporter of liquefied natural gas (LNG), has accused the British-Dutch oil and gas giant Shell of trying to harm its business. About writes Financial Times.

In a Thanksgiving email to Venture Global employees, the US company's co-founders Michael Seibel and Roberta Pender criticized the "misguided decision" of a "frustrated" Shell to appeal a recent arbitration award in favor of Venture Global.

Shell's actions are based on "completely unsubstantiated claims and unfortunately continue its three-year campaign to harm Venture Global," the letter, which was obtained by the newspaper, says.

"This behavior should be of grave concern to Shell's employees, board of directors and shareholders," said the co-founders of Venture Global.

The letter also emphasizes Venture Global's success in signing $28 billion worth of supply contracts with Japan, Greece and Spain over the past month. The company says it will face off against competitors to become "the world's largest LNG producer."

A number of Venture Global's largest customers, including Shell and BP, had previously filed lawsuits against the company, accusing it of breaching the terms of long-term contracts. The plaintiffs claimed that Venture Global sold the LNG intended for them at a higher price on the spot market.

Venture Global denies breach of contract, insisting that it was not obliged to supply gas as its plant on the US Gulf Coast was not put into commercial operation. The company has declared force majeure on its contractual obligations due to the need to repair the site's power supply system.

Venture Global won its case against Shell at the International Chamber of Commerce (ICC) in August, but lost its case against BP in October, which is seeking more than $1 billion in damages.

In November, Shell filed an appeal against the ICC's decision in a New York state court. In a letter to employees, the co-founders of Venture Global promised that the company would continue to defend its interests in the case.

Venture Global has five LNG projects at various stages of development near the Gulf of Mexico in Louisiana. Total peak production was expected to reach 143.8 million tons per year.

• In May 2025, Bloomberg, citing its own sources, wrote that Shell considers buying BP. In June, The Wall Street Journal reported on the talks between the two companies, citing sources.
• Shell is officially dismissed rumors that he was in talks with BP about a merger. A Shell representative said that the company is focused on its own operations, not on growth through large acquisitions.