Shell and TotalEnergies (TTE) Stocks Defy Force Majeure Declaration on LNG

FomoAnxiety · 2026-03-11T15:01:13+00:00

Shell and TotalEnergies saw their shares rise despite declaring force majeure on LNG contracts in Asia, due to the U.S.-Israel-Iran war. The situation is exacerbated by production halts from QatariEnergy and Saudi Aramco, causing gas prices to spike.

FomoAnxiety

2026-03-11 15:01:13

Abstract generation in progress

Shell SHEL -0.56% ▼ and TotalEnergies’ TTE -0.26% ▼ shares in the UK SHEL +0.82% ▲ and France TTE +0.47% ▲ edged higher on Wednesday. This is despite media reports that both have declared force majeure to some of their liquefied natural gas (LNG) customers in Asia.

Claim 70% Off TipRanks Premium

Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
Stay ahead of the market with the latest news and analysis and maximize your portfolio’s potential

The two Big Oil producers are some of the firms telling customers in the region that they cannot fulfill some of their contractual LNG obligations due to events beyond their control, which in this case are tied to the ongoing U.S.-Israel-Iran war. In the U.S., Shell’s shares were up about 1% during Wednesday’s pre-market trading session, even as TotalEnergies’ shares slid into the red zone.

The reports come as state-owned corporation QatariEnergy, which is the world’s largest LNG producer, last week halted production of LNG due to military attacks on its Ras Laffan and Mesaieed facilities — the former is the biggest single LNG plant in the world. Similarly, Saudi Aramco also temporarily shut down operations at its Ras Tanura oil refinery following drone attacks.

The shutdown contributed to market pressure, sending gas prices soaring in the U.S., Europe, and Asia.

Disclaimer & DisclosureReport an Issue

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.