Petronet says Qatargas, Exxon objected to force majeure on LNG imports
In a classical longterm agreement, the seller accepts price risk through the pricing mechanism in the contract and the buyer accepts volume risk. Force Majeure is a very specific set of circumstances that should be used sparingly. Market developments are no Force Majeure. I would say that the market developments give the buyer a solid claim that he must be able to reroute cargos if he finds a better destination that can be served within the delivery window. And then again I would recommend the parties to come together and talk this one out. This is a hard time for everyone. Slapping Force majeure on the seller is a slap in the face. You should not do that to your longterm partners.
Reuters 
