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Exmar's customer declares force majeure on lucrative Argentinian deal

An Argentinian energy company has declared force majeure on a contract that contributed more than a third of Exmar's operating profit in the first quarter. Exmar is now exploring its legal options.

Photo: PR / Exmar

Belgian gas company Exmar has been hit by a missing payment from a customer on a major and lucrative contract.

Argentinian energy group YPF is so strained by the coronavirus that it has declared force majeure on a charter contract for vessel Tango FLNG. Tango FLNG is a floating facility that produces natural gas, which is then exported from Argentina by YPF with the help of Exmar.

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