Qatar Extends LNG Force Majeure as Hormuz Crisis Drags On
State-owned QatarEnergy has extended the force majeure on LNG deliveries to Asia and Europe by another month through the end of November, as LNG cargo traffic through the Strait of Hormuz remains largely blocked amid the protracted U.S.-Iran stalemate over the chokepoint and pathways to end the war. Qatar’s energy giant, which was the world’s second-largest LNG exporter before the war, has…
QatarEnergy has extended its force majeure on LNG deliveries to Asia, Europe, and at least one buyer in India and Italy's Edison by another month, until the end of November. The extension comes as LNG cargo traffic through the Strait of Hormuz remains largely blocked due to the ongoing U.S.-Iran tensions. This is the second extension since the Iran war crippled Qatar's LNG exports, which have plummeted by as much as 96%.
Six months into the conflict, the country has lost $24 billion in sales, with LNG exports down to just 18, compared to 509 shipments in the same period last year. Although some LNG cargoes have recently transited the Strait or engaged in ship-to-ship transfers, the volumes are a fraction of what Qatar exported before the war.
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