The already dismal LNG supply situation just got worse. With up to 20% of global LNG flows shuttered due to the ongoing blockade of the Hormuz Strait and the extensive damage of Qatar LNG infrastructure, QatarEnergy has declared force majeure on some of ⁠its long-term liquefied natural gas (LNG) supply contracts, including ‌for customers ⁠in Italy, Belgium, South Korea ⁠and China, effectively canceling contractual obligations. That would represent as many as 90 cargoes according to Bloomberg. The move on Tuesday comes amid ongoing production and supply disruptions caused by the United States-Israeli war on Iran. Force majeure is a clause in contracts that allows a party to be excused from its obligations due to unforeseeable events. Petroleum companies in Kuwait and Bahrain have also recently invoked force majeure. Last week, QatarEnergy CEO Saad al-Kaabi said an Iranian attack on Qatar’s Ras Laffan gas facility wiped out about ⁠17 percent of the country’s LNG export capacity, causing an estimated $20bn in lost annual revenue and threatening supplies to Europe and ⁠Asia. Repairs are expected to take 3-5 …