QatarEnergy extends force majeure on LNG supplies to Italy and Asia — Dawn

Italian energy company Edison will not receive liquefied natural gas cargoes from QatarEnergy until early December due to the extension of force majeure notices amid the closure of the Strait of Hormuz. This was reported by Dawn, citing Edison and trading sources.

Supplies to Europe and Asia

Edison, one of QatarEnergy’s largest European clients, said this was another extension of the force majeure first declared in April following disruptions linked to the war between the United States and Iran. According to two trading sources, customers in Asia, including Bangladesh and Pakistan, were also informed that the force majeure notices had been extended through November.

QatarEnergy did not immediately comment on Reuters’ request. According to the agency’s calculations, Qatari LNG exports had declined by 96% as of the end of August. ICIS data show that Qatar shipped 18 LNG cargoes by the end of August, compared with 509 during the same period last year.

More current news is available on the UA.News Telegram channel Telegram.

Cancelled cargoes

In a notice on the Italian energy markets platform, Edison said that QatarEnergy would cancel another six LNG cargoes. This will bring the total number of undelivered cargoes to 35. The Italian subsidiary of France’s EDF has already replaced 23 cargoes, mainly by purchasing gas from US suppliers.

Ahead of the winter heating season, European buyers will have to seek alternative sources to replenish gas storage facilities. This is expected to intensify competition with Asian customers for limited available gas volumes and may keep prices high. Italy is confident it will meet the EU-set target level of gas reserves, while Germany and several other countries are rushing to fill their storage facilities.