US LNG giant Venture Global has come to a settlement agreement with Italy’s Edison of the pending arbitration case concerning Venture Global’s failure to deliver cargoes from its Calcasieu Pass plant, the US company announced on March 27.

The settlement is expected to be closed before the end of the second quarter this year. The settlement includes the delivery of additional cargoes to Edison beyond the number originally agreed to in its long-term contract as a foundation customer.

Venture Global is expected to ship its first cargo from the Calcasieu Pass plant in Louisiana in May 2026 to Italy’s Adriatic LNG terminal near Porto Levante in northeastern Italy.

The settlement and agreement for cargo deliveries to commence shortly comes at an important time for Italy’s Edison as European firms clamor for supply of the super-chilled fuel amid QatarEnergy’s announcement of force majeure on deliveries following attacks by Iran on its Ras Laffan Industrial Complex.

The settlement marks the latest resolution of a pending arbitration case for Venture Global. In January, Venture Global won its arbitration case against Spain’s Repsol. The arbitration tribunal ruled that the firm acted as a ‘reasonable and prudent operator’ in LNG delivery and awarded fees to the US LNG giant. 

Venture Global also won its arbitration case against Shell in August. The world’s largest LNG trader was ordered by an International Chamber of Commerce panel to pay Venture Global’s court fees.

On the other hand, Venture Global lost its arbitration case against supermajor BP in October. The UK firm is now asking for between $3.7bn and $6bn in damages in addition to costs, interest, and attorneys’ fees. A significant increase from initial estimates that the company would request in the range of $1bn.

Meanwhile, Venture Global also reached a settlement in October with Unipec, the trading arm of China’s Sinopec over failed deliveries of cargoes. 

Venture Global remains in one final arbitration case with Polish state-run firm Orlen.