QatarEnergy extends LNG force majeure
MILAN: QatarEnergy has extended force majeure notices and will not be able to deliver liquefied natural gas cargoes to Italian utility Edison or some Asian clients as the Strait of Hormuz remains closed, Edison and trading sources said on Monday. Edison, one of the company’s biggest customers in Europe, will not receive LNG cargoes until the beginning of December, the Italian group said on…
QatarEnergy has extended force majeure notices, preventing the delivery of liquefied natural gas (LNG) cargoes to Italian utility Edison and some Asian clients due to the Strait of Hormuz being closed. Edison, one of QatarEnergy's largest European customers, will not receive LNG until late December, according to an extension of the force majeure notice first issued in April following US-Iran war disruptions.
Asian clients, including those in Bangladesh and Pakistan, were also informed of the extension until November. QatarEnergy declined to comment. In August, the country's LNG exports dropped by 96%, with only 18 cargoes shipped compared to 509 in the same period last year. With the winter heating season approaching, European buyers must seek alternative suppliers, leading to increased competition for limited global supply and higher gas prices.
While Italy aims to meet EU gas buffer targets, other nations like Germany are actively filling their storage facilities. Edison has canceled an additional six LNG shipments, totaling 35 undelivered shipments. The Italian subsidiary of France's EDF has replaced 23 cargoes so far, relying on US suppliers to compensate for the missing deliveries from the Gulf.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
