Oil and Gas

Exmar says Argentina's YPF issued force majeure notice on Tango FLNG

SINGAPORE, June 26 (Reuters) - Belgian shipping company Exmar has said that it had received a force majeure notice from Argentine oil company YPF SA under charter and services deals for the Tango floating export project.

“YPF claims that effects of the coronavirus (COVID-19) pandemic both worldwide and in Argentina have hindered YPF’s ability to perform its obligations under the Agreements, including but not limited to its ability to pay the invoices due for services performed for the period starting the second half of March 2020,” Exmar said in a statement late on Thursday.

Exmar added that it considered the notice to be unlawful. (Reporting by Jessica Jaganathan in Singapore, writing by Ekaterina Kravtsova in London; editing by David Evans)