QatarEnergy set to prolong LNG supply halt

QatarEnergy is readying to extend force majeure on liquefied natural gas shipments through mid-October, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.

Several buyers in Europe and Asia said separately they are expecting a formal notification, the report said.

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Reuters could not immediately verify the report. QatarEnergy did not immediately respond to a request for comment.

Force majeure is a clause that frees parties from liability if any failure to meet supply obligations is due to events beyond their control.

Qatar accounts for about 20% of global LNG exports, all of which transit the Strait of Hormuz, where shipping has ground to a near-halt ​amid escalating tensions between Tehran and Washington.