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The legal documents submitted in New York Supreme Court mark the latest development in a prolonged saga over Venture Global’s failure to deliver LNG under long-term contracts while selling on the spot market as prices soared after Russia’s invasion of Ukraine.

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In a challenge last month to the arbitration ruling, Shell alleged that a third party testified in arbitration that Venture Global had abruptly decided to delay the start of its Calcasieu Pass LNG plant. Shell said it asked arbitrators to study that communication, but said Venture Global avoided disclosure by giving misleading statements.

Venture Global said in its filing on Tuesday that Shell had provided no evidence of the alleged fraud. It said the third party, which was redacted, “did not testify to written communications with Venture Global” and that Venture Global’s counsel did not make misleading statements.

The LNG producer also said in the filing that Shell had breached arbitration confidentiality to share information with Venture Global’s counterparties and their counsel.

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Shell’s arbitration case centred around cargoes from Venture Global’s Calcasieu Pass facility. Shell also has a long-term contract with Venture Global’s Plaquemines facility.

In its legal filing, Venture Global included an email from what it said was a Shell executive, whose name was redacted, signalling an interest in reaching a commercial resolution.

“We remain interested in finding a commercial resolution for both the CP (Calcasieu Pass) and Plaquemines situations and I welcome a conversation at your earliest convenience,” the Shell executive told Venture Global in an email dated the same day the oil major filed its challenge.

The Shell executive also told Venture Global in the email that the arbitration outcome between the LNG producer and BP raised significant concerns about the evidence presented in that proceeding, and suggested that Shell’s arbitration should have been decided in the same way.

Venture Global shares, also under pressure from its exposure to a possible LNG supply glut, have declined 22% since Shell first filed the challenge last month. They are hovering near an all-time low of $6.56 per share compared with $24 when they began trading on the market in January.

that BP won its arbitration case with an argument of unfair behaviour by Venture Global, citing five sources.

BP’s arbitration win in October gave Shell a basis for its challenge, legal experts told Reuters.

“Shell referencing BP’s win (in its challenge) signals that similar fact-patterns led to different tribunal outcomes, strengthening Shell’s argument that full evidentiary access matters,” said Claudio Steuer of the Oxford Institute for Energy Studies.

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GE Vernova – one of only three major makers of gas turbines globally – has yttrium inventories to last the rest of 2025 and into next year, Strazik said, although he did not disclose how long into next year supplies would last.

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The company is also investing in alternatives to replace certain rare earths used in production if it became necessary, although there were cost or performance trade-offs in some cases, he added.

“We are very focused on it every day,” Strazik said in response to a question about yttrium shortages at an investor day on Tuesday.

“We’re in good shape for the foreseeable future based on the fact that we have everything we need for this year into next year. But we will continue to be opportunistic whenever there’s an opportunity to add to the inventory,” he added.

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