QatarEnergy extends LNG force majeure, charters out tankers into October: Report
The extension would keep shipments covered as QatarEnergy faces higher insurance costs and continued disruption in the Strait of Hormuz, Bloomberg News reported.
- QatarEnergy plans to extend the force majeure on liquefied natural gas shipments through mid-October due to disruptions caused by the US-Iran war.
- Asian and European LNG buyers seek lower prices and more supply guarantees from Qatar and the UAE amid rising insurance costs and increased risks.
- Qatar and the UAE supply about 20% of global LNG capacity, with exports heavily reliant on the Strait of Hormuz, where shipping is severely disrupted.
- Buyers want guarantees of replacement cargoes to mitigate risks and must consider increased insurance costs and new risk profiles for Gulf region LNG contracts.
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QatarEnergy extends LNG force majeure and charters out tankers into October, sources say
QatarEnergy has extended force majeure on liquefied natural gas (LNG) supplies to several Asian buyers and continues to lease out some of its LNG tankers through mid-October, trade sources said, signalling expectations that export disruptions could persist as the Strait of Hormuz remains closed.
QatarEnergy Prepares to Extend LNG Force Majeure Into October
QatarEnergy is preparing to further extend force majeure on liquefied natural gas shipments through mid-October, according to people with knowledge of the matter, in a move that would prolong the supply shock that has disrupted the global gas market amid war in the Middle East.
Cook Inlet LNG site surveys near Osprey
The Alaska Department of Natural Resources' Division of Oil and Gas approved the July 9 Cook Inlet LNG land use permit application to conduct geophysical and geotechnical site characterization, water current surveys, and associated temporary activities in state of Alaska waters of Cook Inlet, including tidelands, shorelands and submerged land. The permit, LAS 36136, is effective July 21 to...
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