Poland’s Orlen announced on 10 November that it cancelled its 20-year 1mn t/y LNG supply deal with QatarEnergy, effective 9 January, “due to an ongoing force majeure resulting in an inability to meet contractual delivery obligations.”
The deal was signed in 2009, and was Poland’s first move to diversify away from Russian gas. It was set to expire in 2034 (MEES, 6 July 2009), and analysts say it was expensively priced with a 16% slope to oil. (CONTINUED - 146 WORDS)