QatarEnergy extends LNG force majeure through mid-June

Investing.com -- QatarEnergy has extended force majeure on its liquefied natural gas supply through mid-June, Bloomberg reported Monday, as the Strait of Hormuz remains largely closed to tanker traffic.

Customers of the state producer received the notice, according to people familiar with the matter who requested anonymity as they were not authorized to speak publicly.

Force majeure is invoked when exceptional circumstances prevent companies from fulfilling their commercial obligations. QatarEnergy has issued regular force majeure notices since the Iran war began in late February.

Global gas prices in Europe and Asia have risen since the conflict started, with nearly one fifth of LNG supplies disrupted, including shipments from Qatar and the United Arab Emirates. Qatar's Ras Laffan facility sustained damage from Iranian missile strikes in March.

You May Also Be Interested In

• First Advantage to join S&P SmallCap 600, replacing Kennedy-Wilson
• ChowChow Cloud addresses unusual trading activity in shares
• CRISPR Therapeutics (CRSP) Reiterated at Market Outperform by Citizens