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Market Chatter: QatarEnergy Extends Force Majeure for Asian LNG Buyers

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QatarEnergy, a state-owned liquefied natural gas giant, has prolonged force majeure for LNG supplies to several Asian buyers amid the closure of the Hormuz Strait, Reuters reported Thursday, citing trade sources.

Force majeure notices set to expire in August and early September have been extended until mid-September for buyers in South Korea, India and Bangladesh. The company could potentially extend the force majeure until October, according to two trade sources.

QatarEnergy was forced to shut LNG production units, declare force majeure on deliveries, and halt exports due to the Iran war. In the meanwhile, it has chartered out some of its LNG tankers through mid-October, indicating expectations of continued exports disruptions amid renewed hostilities between the US and Iran.

Qatar is among the biggest LNG suppliers in the world and a prolonged disruption in supplies by the company would likely raise prices for key Asian buyers ahead of the Northern Hemisphere winter, the report said.

has reached out to QatarEnergy for comments.

(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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