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Shell declares force majeure to clients who buy Qatari LNG: Report
The disruption from drone strikes hit Qatar's LNG facilities, affecting about 20% of global supply and causing major traders to declare force majeure on shipments.
- Shell announced on Wednesday that it declared force majeure on LNG cargoes it buys from QatarEnergy and sells worldwide; neither Shell nor TotalEnergies publicly confirmed the declarations.
- QatarEnergy halted production at its giant LNG complex earlier this month after drone strikes hit facilities at Ras Laffan Industrial City and Mesaieed Industrial City and declared force majeure on LNG shipments on March 4.
- Analysts note that Qatar's 77 million tons per year capacity makes it the world's second-largest LNG exporter; Shell lifts about 6.8 million tons per annum and TotalEnergies takes roughly 5.2 million, while Kpler vessel-tracking data shows five consecutive days without shipments.
- Companies including Shell and TotalEnergies notified downstream buyers that deliveries may be disrupted from April, while other Qatari LNG buyers including some Asian firms declared force majeure.
- The disruption marks the first clear sign that Qatar's export stoppage is cascading through the global LNG trading system, pushing Asian and European gas markets higher as Energy Minister Saad al-Kaabi said restoring deliveries could take 'weeks to months'.
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Qatar, whose huge Ras Laffan LNG plant has been shut down since a drone attack, provides a third of the world's helium supply, a critical gas for electronic chip manufacturers.
·Paris, France
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Exclusive: Shell declares force majeure to clients who buy Qatari LNG, sources say
Shell , the world's largest liquefied natural gas trader, has declared force majeure on LNG cargoes it buys from QatarEnergy and sells to its clients worldwide, three sources told Reuters on Wednesday.
·London, United Kingdom
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Coverage Details
Total News Sources27
Leaning Left4Leaning Right4Center8Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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