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27.03.26 - 15:48
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QatarEnergy Declares ForceMajeure For LNG Shipments Through May, Representing As Many As 90 Cargoes (ZeroHedge)
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QatarEnergy Declares ForceMajeure For LNG Shipments Through May, Representing As Many As 90 Cargoes
The already dismal LNG supply situation just got worse.
With up to 20% of global LNG flows shuttered due to the ongoing blockade of the Hormuz Strait and the extensive damage of Qatar LNG infrastructure, QatarEnergy has declared force majeure on some of its long-term liquefied natural gas (LNG) supply contracts, including for customers in Italy, Belgium, South Korea and China, effectively canceling contractual obligations. That would represent as many as 90 cargoes according to Bloomberg.
The move on Tuesday comes amid ongoing production and supply disruptions caused by the United States-Israeli war on Iran.
Force majeure is a clause in contracts that allows a party to be excused from its obligations due to unforeseeable events. Petroleum companies in Kuwait and Bahrain have also recently invoked force majeure.
Last week, QatarEnergy CEO Saad al-Kaabi said an Iranian attack on Qatar...
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27.03.26 - 14:48
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First Qatar Supply Shock, Now Cyclone Chaos Slams Major Australian LNG Plants (ZeroHedge)
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First Qatar Supply Shock, Now Cyclone Chaos Slams Major Australian LNG Plants
In a troubling overnight development that could further deepen the Gulf energy shock, especially in global LNG markets, a tropical cyclone has disrupted operations at three major Australian LNG facilities, which together account for roughly 8.4% of global supply. The timing is alarming: Iranian strikes have already knocked out about 17% of Qatar's LNG export capacity, with repairs potentially taking years. The Australian outages now add near-term supply risks for buyers, particularly in Asia and Europe, who are already panicking and scrambling for new supplies.
Tropical Cyclone Narelle is bearing down on Western Australia's coastline and has sparked major disruptions across three of Australia's top LNG facilities, including Gorgon, Wheatstone, and North West Shelf (as per Bloomberg):
Woodside Energy Group Ltd.'s North West Shelf export plant in Western Australia had a production interruption due to severe Trop...
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