Gulf countries, including Qatar, Bahrain and Kuwait, have declared force majeure on gas exports following the United States-Israel war on Iran, now in its third week, and the disruptions to shipping through the Strait of Hormuz, as Tehran has retaliated across the region, targeting US assets.QatarEnergy was among the first to halt production, shutting down gas liquefaction on March 2 and sending ripples through global energy markets. Kuwait Petroleum Corporation and Bahrain’s Bapco Energies followed days later, while India invoked emergency measures to redirect gas supplies to priority sectors.Oil prices also soared to more $100 a barrel as war intensified and uncertainty grew over energy shipments through one of the world’s most critical maritime chokepoints.Here’s what we know about force majeure and what Gulf countries invoking it means for global oil and gas markets.What is force majeure?Force majeure, from the French meaning “superior force”, is a clause in contracts that allows a party to be excused from its obligations when an event beyond its control prevents performance.This legal move can allow a party to suspend its obligations temporarily, be released from them partially or fully, or adjust them to reflect the new circumstances.Why are Gulf countries invoking force majeure?Companies in Qatar, Kuwait and Bahrain have invoked it following severe disruptions to shipping through the Strait of Hormuz caused by US-Israeli military strikes against Iran that started on February 28. Advertisement Following these attacks, a commander in Iran’s Islamic Revolutionary Guard Corps (IRGC) said on March 2 that the Strait of Hormuz was closed and warne …
