ConocoPhillips claims that any delays in the Qatar LNG project are likely to be limited to a few months.

ConocoPhillips announced on Thursday that it expects any delays to its Qatar LNG project will 'likely' be in the months rather than a year and does not anticipate any impact on cash flow.

The U.S. gas and oil producer is a?partner in QatarEnergy’s main LNG project. This includes?offshore installations in the North Field, and onshore at?Ras Laffan.

ConocoPhillips' executive stated on a call after earnings that they expect any delays to first?gas and first cargo will be of the?months-type, but not a whole year.

The executive said that planned maintenance at Ras Laffan had been completed in the second quarter. A?ramp up in production' is expected to take place in the third.

The U.S. - Iran 'war' has forced QatarEnergy to close liquefaction train, declare force majeure for deliveries, and suspend exports.

Qatar is responsible for about a fifth (or more) of the global LNG trade. A prolonged outage could cause a shortage and increase prices. (Reporting from Pooja Menon and Arathy S. Somasekhar, in Bengaluru; editing by Shinjini G. Ganguli and Joyjeet Das.)

(source: Reuters)