Venture Global jumps on Shell arbitration win

LNG company Venture Global VG.N rises 10.3% to $13.44

Tribunal sides with VG in legal battle against Shell SHEL.L over cargo delivery from the Calcasieu Pass export facility; Shell had accused VG of favoring spot sales over contract obligations

Ruling removes a major overhang on the stock and market may see it as a baseline for other pending arbitration cases, UBS analyst Manav Gupta says

The decision of the tribunal is in keeping with Venture Global's position that it has always honored its agreements with its customers - VG

As of last close, VG down more than 49% since it went public in January