QatarEnergy Extends Force Majeure Notice Amid Hormuz Disruptions

QatarEnergy has extended its force majeure notice to Pakistan and other Asian clients until November, due to disruptions caused by the US-Iran conflict. The company had initially issued a force majeure notice in April after the conflict disrupted trade through the Strait of Hormuz. This is not the first time QatarEnergy has delayed LNG deliveries to Italy's Edison, one of its biggest customers in Europe.

The Italian utility announced that it will not receive LNG cargoes until early December, according to a message on an energy markets platform. This marks the latest extension under the force majeure notification. Edison holds a long-term contract with QatarEnergy for the supply of 6.4 billion cubic meters of natural gas per year to Italy.

The conflict has had a significant impact on Qatar's LNG exports, which have been slashed by 96 percent since last year. The country exported only 18 LNG cargoes until end-August, down from 509 in the same period last year. The winter heating season is about to start, and buyers in Europe will need to look elsewhere for gas supplies.