LONDON, July 27 (Reuters) - Top LNG trader Shell expects sale agreement with Venture Global LNG to be honoured, and it doesn't see this happening at the moment, the Shell CEO told a news conference on Thursday.
Earlier this month, Reuters reported Shell and BP have separately filed for arbitration against U.S. exporter Venture Global LNG for failing to supply contracted cargoes, even as it sold to non-contract customers as prices soared, four people familiar with the matter said.
"We have an existing agreement and a contractual obligation on both sides, we expect both sides to honour that agreement, at the moment we don't see that happening," CEO Wael Sawan said, adding the company is accordingly taking appropriate measures.