Hormuz reopening unlikely to quickly unwind LNG supply backlog: lawyers

AI Summary

Legal experts warn that reopening the Strait of Hormuz to LNG tanker traffic may not quickly resolve the backlog of supply chain and contractual disputes caused by delays, potentially impacting cargo scheduling until 2027. The Middle East LNG exporters face a prolonged recovery process.

Middle East LNG exporters could spend years resolving contractual disputes and restoring missed deliveries after LNG tanker traffic through the Strait of Hormuz resumes, with a backlog of claims potentially affecting cargo programming well into 2027, contract lawyers have told Platts. “A key question remains whether base volumes are restored first, or whether deferred and ...