China’s state-owned CNOOC has declared force majeure on LNG contracts, a source close to company said Thursday, as the country’s largest LNG importer tackles disruptions in downstream markets in the wake of the coronavirus outbreak. The coronavirus has sparked fears of a major economic slowdown in China, the world’s second-largest LNG importer behind Japan, where quarantines and travel restrictions have caused a demand contraction. So far, 25 countries have reported confirmed cases of the virus, 99% of them — 24,363 cases — in China, and the remaining 191 outside China, according to the World Health Organization Wednesday. The force […]