Mar. 4 at 3:20 PM
QatarEnergy declares Force Majeure
Further to the announcement by QatarEnergy to stop production of LNG & associated products, QatarEnergy has declared Force Majeure to its affected buyers.
--- Qatar supplies ~20% of global LNG - in 2025, QatarEnergy shipped nearly 81M metric tons of LNG.
More than 80% of Qatar’s LNG goes to Asian markets, including China, Japan, India, & South Korea, w/ Europe also a significant buyer under long-term contracts.
Qatar was on track to expand capacity by 2030 w/ hopes of roughly doubling it - this may change the calculus for global LNG balances in the future.
Goldman Sachs; If tanker traffic disruption in the Strait of Hormuz continues for a month, Asian LNG prices could rise to
$25 per mmBtu, which would be a +130% increase from prices at the time.
Note: Currently at
$35.40 mmBtu
$LNG $VG $XOM $CVX $BP