QatarEnergy Declares Force Majeure on Some LNG Supply Contracts
QatarEnergy says attacks damaged one gas-to-liquids (converting gas into liquid fuels) facility train and materially reduced other output, affecting some liquefied natural gas supply contracts.
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Terms & Concepts
LNG: Liquefied natural gas, a form of natural gas cooled for easier storage and transport.
Force majeure: A contractual clause that allows parties to suspend obligations after extraordinary events disrupt normal operations.
GTL: Gas-to-liquids, a process that converts natural gas into liquid fuels and other petroleum products.