Poland's Orlen ends long-term QatarEnergy LNG contract over delivery failure
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- ✓Poland’s Orlen ended a long-term QatarEnergy LNG contract on Tuesday due to delivery failures.
- ✓The company said, "The decision to terminate the Agreement does not affect the security of gas supplies." Orlen now gets gas from Norway and the US, ensuring its needs are met despite the supply gap.
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- Indian Markets
- Reported By
- Reuters
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- 3 Minute(s)
- Market Focus
- India Economy
The move marks the first known termination of a long-term QatarEnergy LNG contract since the Iran war disrupted exports from the world's second-largest LNG exporter. It underscores the commercial toll of the conflict on Qatar's LNG business, which buyers had long regarded as one of the most reliable sources of supply.
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The contract covered 1 million metric tons of LNG per year and was due to remain in force until 2034. But Orlen said it exercised its right to terminate the agreement on Tuesday "due to an ongoing force majeure resulting in an inability to meet contractual delivery obligations," adding that the contract will remain in force for 60 days following the notice of termination.
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