By Matt Grossman

 

Golar LNG Ltd. shares fell Tuesday morning after a subsidiary of the company received a force majeure claim relating to a natural-gas facility.

The stock traded nearly 13% lower to $5.32. It had ended trading Monday at $6.10.

The subsidiary, Gimi MS Corp., was notified by BP Mauritania Investments Ltd that BP would not be ready to receive a new floating liquified natural-gas facility in 2022 as scheduled. BP's claim cited effects from the coronavirus pandemic, Golar said.

Golar, headquartered in Bermuda, said it has asked BP to clarify the claim, questioning how the Covid-19 crisis could already have affected the planned natural-gas facility.

Representatives for BP didn't immediately respond to a request for comment.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

April 07, 2020 11:28 ET (15:28 GMT)

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