QatarEnergy prepares to extend force majeure on LNG into mid-October, Bloomberg News reports
XLE•What force majeure means and why it matters
Force majeure is a clause that frees parties from liability if any failure to meet supply obligations is due to events beyond their control.
Qatar accounts for about 20% of global LNG exports, all of which transit the Strait of Hormuz, where shipping has ground to a near-halt amid escalating tensions between Tehran and Washington.
QatarEnergy prepares to extend LNG force majeure
July 22 (Reuters) - QatarEnergy is readying to extend force majeure on liquefied natural gas shipments through mid-October, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.
Several buyers in Europe and Asia said separately they are expecting a formal notification, the report said.
Reuters could not immediately verify the report. QatarEnergy did not immediately respond to a request for comment.
