Qatari energy firm declares force majeure on LNG contracts with S. Korea, China, Italy, Belgium: reports

WASHINGTON, March 23 (Yonhap) -- A Qatari state-owned energy company on Tuesday declared force majeure on its long-term liquefied natural gas supply contracts with South Korea, China, Italy and Belgium due to damage caused by last week's missile attacks on its facilities, reports said. QatarEnergy made the declaration, Reuters, Al Jazeera and RIA Novosti reported, after the company said Friday that missile attacks on Wednesday and Thursday caused damage to facilities in Ras Laffan, an industrial city in Qatar, affecting about 17 percent of Qatar's exports. Force majeure is a contract clause that excuses a party from performing its obligations when unforeseeable circumstances beyond its control make performance impossible. The attacks on Qatar's LNG facilities came amid the ongoing U. S.-Israeli war against Iran, which has effectively choked off the Strait of Hormuz, a key oil shipping route, pushing up oil prices and escalating energy security concerns. Qatari Minister of Energy Affairs Saad Sherida Al-Kaabi has said that the damage to the LNG facilities will take three to five years to repair, according to a release posted on QatarEnergy's website. This undated AFP file photo shows a liquefied natural gas (LNG) carrier. (END)