QatarEnergy has prolonged its force majeure on liquefied natural gas (LNG) shipments until the end of 2026, leaving Europe and Asia facing supply uncertainties as winter approaches. The state-owned firm informed Italy’s Edison that it would miss delivering three additional LNG cargoes to the Adriatic LNG terminal, extending the force majeure initially declared in April 2026.
The disruption has also affected South Asia, with Bangladesh’s Petrobangla confirming the extension of the force majeure on Qatari LNG deliveries. Petrobangla chairman Abdul Mannan noted that the country is scrambling to secure spot cargoes to fill the supply gap, a move that will significantly increase import costs and strain finances.
Pakistan is expected to spend over $1 billion to secure LNG for the winter months, as spot prices in Asia surge to four-year highs. The government plans to import 10 LNG cargoes from the spot market, at double the price of long-term contracts with Qatar. Meanwhile, LNG flows through the Strait of Hormuz have not recovered, further driving up prices in Europe and Asia.
In Europe, the front-month price at the Dutch Title Transfer Facility (TTF), the benchmark for gas trading, rose by 1.5% on Wednesday. At $108.51 per megawatt-hour (MWh), the European gas price has reached its highest level since the 2022 energy crisis, when Europe faced its first winter without most of Russia’s pipeline gas.