Exxon Mobil Corporation (XOM)

[eFinanceMarkets]

Exxon says Qatar LNG production, exports not affected by Arab tensions

Exxon Mobil (XOM +1.3%) says its production and exports of liquefied natural gas from Qatar have not been affected by rising diplomatic tensions in the Middle East that have seen several countries cut ties with the country.

Commodities traders have grown concerned that Qatar's LNG could be barred from Saudi Arabia or from traversing Egypt's Suez Canal; Maersk (OTCPK:AMKAF, OTCPK:AMKBY), the world's biggest container shipping line, says it is no longer able to transport goods in or out of Qatar.

Qatar and XOM have maintained development agreements for more than a decade, and the company has said that a large portion of its Qatari LNG production is under long-term supply contracts, meaning it must supply gas from Qatar or some other source.