QatarEnergy Extends LNG Force Majeure Into August
Santos Doubles Down on Oil and LNG Expansion Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.
QatarEnergy said it would extend the force majeure on its exports of liquefied natural gas until the middle of August, Reuters hasreported, citing Italy’s Edison, which has a long-term supply deal with the Qatari company.
Originally, the force majeure was set to run until early July.
The declaration followed Iranian strikes on Qatar’s LNG hub that caused extensive damage.
In a notice to buyers, the state energy giant said in early March that the declaration follows its decision to halt LNG and associated production after Iranian strikes targeted facilities linked to Ras Laffan and Mesaieed Industrial City.
The shutdown affects LNG output as well as downstream products including urea, polymers, methanol and aluminum.
For Edison, the impact of the force majeure has totalled 17 LNG cargoes or 2.2 billion cu m of natural gas, the Italian company said.
Its contract with QatarEnergy is for an annual amount of 6.4 billion cu m.
Edison, like other LNG buyers from Qatar, has turned to U.S.
exportsof the superchilled fuel hit an all-time high of 11.7 million tons, with Louisiana facilities accounting for close to two-thirds of total exports.
liquefied gas is going to Europe, which is struggling to replenish severely depleted storage levels after a cold winter.
QatarEnergy, meanwhile, is alsoturningto the United States for LNG supply.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment