# Force majeure notices from Chinese LNG buyers: prelude to a renegotiation? - Oxford Institute for Energy Studies

> PetroChina and CNOOC issued force majeure notices to LNG and piped gas suppliers, citing coronavirus logistics and plunging demand. Industry observers suspect the notices are an attempt to renegotiate contract terms, though outright price revisions are expected to be resisted.

- Date: 2020-03-09 · published 2020-03-09T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/54318-force-majeure-notices-from-chinese-lng-buyers-prelude-to-a-renegotiation-oxford
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Contract disputes add uncertainty to Asian gas supply and pricing, and renegotiated flexibility could further weaken LNG price levels.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2020-07-21 | [Weak Demand Forces Buyers To Cancel U.S. LNG Cargoes \| OilPrice.com](https://feedsoft.ai/events/52292-weak-demand-forces-buyers-to-cancel-u-s-lng-cargoes-oilprice-com.md) | +6.9% | +39.1% |
| NATGAS | 2020-06-22 | [Buyers of US LNG to cancel 40-45 cargoes for August loading - Markets - Business Recorder](https://feedsoft.ai/events/52799-buyers-of-us-lng-to-cancel-40-45-cargoes-for-august-loading-markets-business.md) | -7.6% | +6.2% |
| NATGAS | 2017-05-10 | [Analyst: Surging US Gas to Cap European Prices \| Energy Intelligence](https://feedsoft.ai/events/71204-analyst-surging-us-gas-to-cap-european-prices-energy-intelligence.md) | +3.9% | -4.7% |
| NATGAS | 2019-12-26 | [Energy bills for millions of households to fall after gas prices halve \| Energy industry \| The Guardian](https://feedsoft.ai/events/7849-energy-bills-for-millions-of-households-to-fall-after-gas-prices-halve-energy.md) | -2.6% | -11.2% |
| NATGAS | 2021-09-01 | [China's LNG import surge to cool in winter as high prices bite](https://feedsoft.ai/events/45735-china-s-lng-import-surge-to-cool-in-winter-as-high-prices-bite.md) | +9.9% | +28.7% |

## Sources

- oxfordenergy.org: https://www.oxfordenergy.org/publications/force-majeure-notices-from-chinese-lng-buyers-prelude-to-a-renegotiation/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.