Mar. 11 at 8:47 PM
$SHEL (world’s largest LNG trader) has declared force majeure on LNG cargoes it buys from QatarEnergy
Qatar, the world’s 2nd largest exporter of LNG, announced last week a production halt at a facility that produces 77mtpa & declared force majeure on LNG shipments
Other Qatari LNG buyers, including
$TTE & Asian companies, have received force majeure notices from Qatar & told customers they would not be selling them Qatari LNG as long as the facilities remain closed
Shell takes 6.8mtpa of Qatari LNG & TotalEnergies takes 5.2mtpa
Qatari Energy Minister says it would take “weeks to months” to return to normal deliveries, even if the war ended today
Impact of force majeure notice to be felt in April
Production outages in Qatar & the UAE have removed around 19% of global LNG supply
$LNG $VG $TOU.TSX
