Yemen LNG Stops Operations as Clashes Approach Balhaf
- Business & Finance
Yemen’s producer and exporter of liquefied natural gas Yemen LNG Company is halting all operations due to further degradation of the security situation in the vicinity of Balhaf.
With the battles approaching the coast of Shabwa province where Balhaf is located, the company has started evacuation of the site personnel.
The tribes in the south, opposed to Houthis, are reported to be on the move and will try to defend the LNG export facility. The plant will remain in a preservation mode.
As a consequence of the current situation, Yemen LNG has declared Force Majeure to its various stakeholders.
The company says it will continue to survey closely the situation on the plant and its vicinity.
Yemen LNG is the country’s largest-ever industrial investment budgeted around USD 4.5 billion.