fromThe Conservative Treehouse:
Force Majeureis a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, epidemic, or sudden legal change prevents one or both parties from fulfilling their obligations under the contract.
People would be well advised to wait a few days when announcements are made before jumping to immediate conclusions. The announcement by Qatar Energy of a force majeure notificationdid not originatefrom Qatar’s inability to produce contractual LNG supplies…..
TRUTH LIVES on athttps://sgtreport.tv/
…. two days prior to this announcement, India’s top gas importer Petronet LNG Ltdissued a force majeure noticeto Qatar Energy and local buyers because its LNG tanker ships were unable to reach the Ras Laffan load port due to the crisis in the Middle East. Without ships arriving to take the LNG Qatar Energy cannot keep producing.
Qatar Energy operates 14 liquefied natural gas (LNG) trains with a total annual production capacity of 77 million tonnes {SOURCE}. If ships don’t reach the terminals, there’s no need for Qatar Energy to keep pumping and liquifying from well heads. It’s a downstream issue.
Bahrain made the same announcement for their refined aluminum exports {SOURCE}. Indonesian company Chandra Asri made the same announcement for petrochemicals {SOURCE}. Chevron made the same announcement two days ago after Israel shut down the Leviathan natural gas field {SOURCE}. Thus, we see the ramifications for the entire region around the Iran conflict zone and the downstream destinations (Asia and Europe) for energy products therein.
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Source: SGT Report
