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  • ExxonMobil is suing Macquarie Energy, hoping that a Texas court will rule that last month's winter freeze was a natural disaster.

  • Such a ruling would allow Exxon to break its contract without paying a penalty for failing to deliver natural gas to Macquarie, which is the second largest gas marketer in the U.

  • S.

  • The lawsuit says a massive storm and state declarations of emergencies had prevented ExxonMobil from fulfilling its supply commitment.

  • Macquarie had demanded that Exxon cover the wholesalers $11.7 million in damages for miss deliveries.

  • MacQuarrie was one of the biggest winners in the cold snap that stretched as far south as Texas, where over four million homes lost power.

  • The freezing temperatures caused gas demand and prices to soar in the U.

  • S.

  • And analysts said Australian based MacQuarrie could reap a $317 million profit from a weather related gas binge.

  • Macquarie spokesman declined immediate comment.

  • Exxon did not reply to a request for comment.

  • Macquarie shares closed nearly 1% lower in Australia.

ExxonMobil is suing Macquarie Energy, hoping that a Texas court will rule that last month's winter freeze was a natural disaster.

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Exxon sues Macquarie Energy over missed deliveries

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    林宜悉 posted on 2021/03/04
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