After production at Qatar's massive 77 mtpa LNG facility ended, Shell plc declared a force majeure on LNG cargoes related to QatarEnergy. When the largest LNG trader in the world delays deliveries, it becomes a market issue rather than a business issue.
This is where geopolitics has a significant commercial impact on the shipping and energy markets. If the shutdown continues into April, supply planning, charter rates, and tanker schedules may all change.
Global power markets, shipping lanes, and terminals can all be affected by a single disruption at the source. The timing of LNG trade is essential and the clock is currently unreliable.