QatarEnergy, the national petroleum company of Qatar, stunned global energy markets on Wednesday by declaring force majeure and canceling its contracts to deliver liquid natural gas (LNG) to customers around the world due to attacks from Iran on its energy infrastructure.
“Force majeure” is a legal clause that allows companies to cancel their contracts because forces beyond their control have made it impossible for them to meet their obligations.
QatarEnergy officials said LNG production could not be restarted for at least two weeks, and it would take another two weeks after that before its normal volume of exports could resume.
“Nothing can…
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