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Market Chatter: Qatar to Resume LNG Production in 'Few Weeks'

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Qatar will resume liquefied natural gas production "within a few weeks," except for the damaged facility, parallel to the expected resumption of shipping through the Strait of Hormuz following the US-Iran deal, Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani told the Financial Times.

QatarEnergy, however, would not immediately lift force majeure unless all issues are addressed and operations are declared safe, the report said. A drone attack on the Ras Laffan LNG plant prompted the company to suspend production and declare force majeure to clients on March 4.

Shipping traffic may return to pre-war levels a month after the deal, the prime minister told the FT, but confidence to transit may take time to recover, and shortages of commodities, such as fertilizers, urea, petrochemicals, and helium, may still be felt in the coming months.

QatarEnergy did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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