BP has won an arbitration case it brought against Venture Global, alleging that the LNG exporter had violated its long-term supply contract with the supermajor in order to make bigger profits on the spot market. The development delivers a blow to Venture Global, which has become one of the largest exporters of liquefied natural gas in the United States in a matter of years, not least because it tapped the spot market right when demand for gas was soaring. The problem that BP and half a dozen other energy companies had with that was that they had…