GDANSK (Reuters) -Polish energy group Orlen’s chief executive Ireneusz Fafara said on Thursday he was optimistic about the company’s arbitration case against U.S. liquefied natural gas supplier Venture Global.
“After meeting with our lawyers, we are quite optimistic about our chances,” Fafara told a press conference after the group published its quarterly earnings report, adding that his optimism stemmed from a recent arbitration win by BP in a similar case.
Orlen is one of several European energy firms, including Shell, that filed claims against Venture Global, accusing it of failing to supply contracted cargoes while selling LNG on the more lucrative spot market.
The dispute concerns supplies from Venture Global’s Calcasieu Pass export facility in Louisiana. BP won its case in October, while Shell lost a similar claim in August.
Orlen’s Chief Financial Officer Slawomir Jedrzejczyk told the conference that hearings are scheduled for late 2026, and a final verdict is not expected to be reached during that year.
The Polish group has two long-term contracts with Venture Global. It began receiving gas in April under the first deal, while the second is scheduled to start in the fourth quarter of 2026, Jedrzejczyk added.
(Reporting by Marek Strzelecki;Writing by Rafal Nowak;Editing by Milla Nissi-Prussak)
