In section Market Quotes
A long-term LNG agreement between Poland’s Orlen and QatarEnergy is being terminated after months of missed deliveries, with Orlen citing continuing force majeure. The deal was due to run until 2034 and covered 1 million metric tons of gas a year.
Orlen said Tuesday that the contract would remain in effect for 60 days after its termination notice. The Polish state-owned energy company said the move was “due to the continuing force majeure resulting in a lack of supplies.”
The agreement was valued at about 570 million euros this year. Orlen said ending it would not threaten its gas supply security, citing production from its own fields and other long-term supply agreements as sufficient to meet the group’s needs.
QatarEnergy has been unable to meet its contractual obligations since March, after the Iran war disrupted shipments through the Strait of Hormuz and Iranian strikes damaged its main export hub. Before the disruption, the state-owned company supplied about a fifth of the world’s LNG. QatarEnergy was not immediately available for comment.
The cancellation is the first known termination of an agreement with QatarEnergy since the war began.
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