Qatar's LNG Exports Remain Uncertain Following Iranian Attacks
QatarEnergy's LNG exports to Italy are still uncertain following recent attacks on its gas plants in Iran. Edison CEO Nicola Monti said that Qatar has not yet assessed the damage caused by the bombings, which knocked out 17% of its export capacity. The pause in LNG supply until mid-June was mainly due to a shipping blockade in the Strait of Hormuz.
Edison, an Italian utility, has a long-term contract with QatarEnergy for 6.4 billion cubic meters of gas per year, around 10% of Italy's total annual consumption. Monti said that Qatar is committed to mitigating the impact on its customers and has an agreement with LNG supplier Venture Global to supply additional cargoes.
The deal between Edison and Venture Global will help reduce the effects of missed Qatari deliveries. Monti noted that other companies in arbitration with Venture Global may also consider settling their disputes after seeing the successful resolution.