Hormuz Closure Exacerbates Global LNG Shortage Ahead of Winter Demand
QatarEnergy has extended its force majeure notices on liquefied natural gas (LNG) deliveries due to the prolonged closure of the Strait of Hormuz, affecting several customers in Asia and Europe.
The company's largest European customer, Italian utility Edison, said it would not receive LNG cargoes until December. Edison has already replaced 23 of the missing cargoes with US supplies, but still faces a shortage of 35 undelivered shipments.
QatarEnergy had initially issued force majeure notices in April due to disruptions linked to the US-Iran war. The prolonged disruption comes as winter heating season approaches, putting pressure on European buyers to seek alternative supplies and intensifying competition with Asian buyers for limited global LNG supplies.