Hormuz Blockage Triggers Qatar LNG Export Collapse
QatarEnergy has extended its force majeure notices on liquefied natural gas (LNG) supplies to buyers in Europe and Asia, citing continued disruptions through the Strait of Hormuz. The company notified Pakistani buyers that LNG shipment cancellations will continue through October, while Italian energy company Edison reported that its cancellations had been extended into early November.
The move affects a significant portion of Qatar's LNG exports, which pass through the strait. According to Kpler data, only 10 vessels crossed the waterway on Wednesday, down from previous levels. This has resulted in a 96% collapse in LNG exports since the war began, with Qatar shipping only 18 cargoes compared to 509 during the same period last year.
The disruption is adding pressure to European gas markets, which remain exposed to developments in the Middle East. Front-month natural gas futures at the Dutch TTF hub rose nearly 2% to €69.4 per megawatt-hour on Friday.