Venture Global Sinks After Losing to BP in Fight Over LNG Sales

Share of Venture Global Inc. plunged the most in seven months after the US liquefied natural gas exporter lost a dispute over the sale of cargoes with one of its key customers, BP Plc.

The stock fell as much as 23%, the most since March, on Friday following a ruling by an arbitration tribunal that Venture Global breached its contract with BP by selling LNG on the spot market from a Louisiana facility rather than to customers that held long-term agreements. BP is seeking more than $1 billion in damages.