Qatar Extends Force Majeure as Hormuz Crisis Still Blocks LNG Traffic
Qatar’s state-owned QatarEnergy has extended by several weeks its force majeure on LNG deliveries to customers as the LNG flows at the Strait of Hormuz remained blocked despite increased oil flows. QatarEnergy has notified buyers in Pakistan and Bangladesh this week that LNG cargo cancellations would continue through October, traders with knowledge of the situation told Bloomberg on Friday.
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Key Facts
- Fact 1: As of July 28, a total of 24 LNG cargoes for delivery to Edison were subject to force majeure since April, representing a total volume of approximately 3 billion cubic meters of natural gas.
- Fact 2: Six months since the Iran war crippled Qatar’s LNG exports via the Strait of Hormuz, the world’s second-largest liquefied natural gas exporter has lost $24 billion in sales as exports tumbled by as much as 96%, Reuters calculations showed earlier this week.
- Fact 3: The number of LNG cargoes that Qatar has managed to export crashed to just 18, down from 509 cargoes shipped from Qatar in the same period of last year, per data from data intelligence firm ICIS cited by Reuters.
- Fact 4: By Charles Kennedy for Oilprice.com More Top Reads From Oilprice.com Aramco Finds a New Way to Keep Saudi Crude Flowing to China MIT Uses AI to Challenge a Century-Old Process for Mass Ammonia Production Qatar and Kuwait Restore 70% of Pre-War Oil Exports Through Hormuz
Qatar’s state-owned QatarEnergy has extended by several weeks its force majeure on LNG deliveries to customers as the LNG flows at the Strait of Hormuz remained blocked despite increased oil flows. QatarEnergy has notified buyers in Pakistan and Bangladesh this week that LNG cargo cancellations would continue through October, traders with knowledge of the situation told Bloomberg on Friday.
Some previously planned deliveries to Europe under long-term deals have also been cancelled beyond September, with Edison of Italy saying the force majeure and cargo cancellations were extended into early November. At the end of July, Edison said that QatarEnergy canceled an additional three LNG cargoes with the force majeure period extended by September. As of July 28, a total of 24 LNG cargoes for delivery to Edison were subject to force majeure since April, representing a total volume of approximately 3 billion cubic meters of natural gas.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
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