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    Force majeure notices from Chinese LNG buyers: prelude to a renegotiation? [GGP]

Summary

In early February 2020, China’s largest LNG importer invoked force majeure on cargoes.

by: OXFORD INSTITUTE FOR ENERGY STUDIES (OIES)

Posted in:

Complimentary, Global Gas Perspectives

Force majeure notices from Chinese LNG buyers: prelude to a renegotiation? [GGP]

A month later, PetroChina followed suit, issuing force majeure notices on LNG and pipeline deliveries. The fall in domestic demand and logistical challenges at ports due to the COVID-19 response promoted the notices, weighing on an LNG market that is already struggling with weak demand and growing supplies. In this podcast, David Ledesma, Agniezska Ason and Michal Meidan discuss force majeure clauses in LNG sales and purchase agreements; why Chinese buyers opted to invoke them and what they mean for contract renegotiations going forward.  

Listen to podcast here:  Force majeure notices from Chinese LNG buyers: prelude to a renegotiation? by David Ledesma, Agniezska Ason and Michal Meidan, Oxford Institute for Energy Studies.

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