QatarEnergy Extends Force Majeure Until October Amid Ongoing Strait of Hormuz Crisis

QatarEnergy has extended its force majeure on liquefied natural gas supplies to European and Asian buyers until October, exacerbating the global LNG disruption caused by the Strait of Hormuz crisis.

The state-owned Qatari energy company notified Pakistani buyers this week that LNG cargo cancellations will continue into October, with force majeure on supplies to Bangladesh also extended beyond September.

This is a significant blow for energy markets, which are already reeling from the prolonged supply disruption. Iran's missile strikes in March damaged two LNG-producing trains at Ras Laffan, the world's largest LNG export facility, cutting production by 12.8 million tons per year and triggering the initial force majeure declaration.

QatarEnergy has estimated that the damage sustained at Ras Laffan would cost the company $20 billion a year in lost revenue, with full repairs potentially taking up to five years to complete.