QatarEnergy Extends Force Majeure on LNG Supplies Amid Strait of Hormuz Disruptions

QatarEnergy has extended its force majeure on liquefied natural gas (LNG) supplies to several countries, including Bangladesh, Pakistan, and Italy. The company declared a force majeure in March due to disruptions caused by the war in West Asia, which has made shipping through the Strait of Hormuz unreliable. This is the third extension of the force majeure, with the latest notification affecting Italian buyers until early November.

According to reports, QatarEnergy has cancelled 29 LNG cargoes so far, resulting in an estimated loss of $24 billion in gas sales. The company's exports have declined significantly since February, from 509 LNG cargoes to just 18 during the first six months of the war. This shortage is being partially filled by other exporters such as the US and Canada.

QatarEnergy President and CEO Saad Sherida Al-Kaabi stated that Iranian missile strikes on Ras Laffan had reduced Qatar's LNG export capacity by 17 percent. Anne-Sophie Corbeau, a global research scholar at Columbia University's Center on Global Energy Policy, warned that prolonged LNG disruptions from Qatar and the UAE could cause global trade to fall in 2026.