Coronavirus Force Majeure Declarations by LNG Buyers: a Negotiating Tool or a Legitimate Case of Force Majeure for LNG SPAs Governed by English Law?

Before the COVID-19 coronavirus outbreak, Asian spot liquefied natural gas (LNG) prices were already at historic lows due to a warm winter and oversupply. Now, with multiple Chinese cities under quarantine, drops in local demand in China have resulted in further price declines, pushing prices to record lows. In response to the epidemic, major Chinese …

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