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38 min ago 2 min read
QatarEnergy has extended force majeure with Italy-based utility Edison, saying it will not deliver an additional four LNG cargoes schedules for the Adriatic LNG receiving terminal until early September.
In a statement, Edison said 21 LNG cargoes have now been subject to force majeure between April and September, representing around 2.7 billion cubic metres of natural gas.
As of 30 June, Edison has replaced 14 LNG cargoes at the Adriatic LNG terminal, representing around 1.3 bcm. Edison confirms its capability to source alternative gas for all its customers to “fully honour the commercial commitments it has undertaken”.
Edison holds a long-term contract with QatarEnergy for the supply of 6.4 bcm of natural gas per year to Italy. The 25-year contract has been in force since 2009.
The move is another clear sign of the market uncertainty surrounding LNG (and helium) flows in the Gulf, and the safe resumption of shipping through the Strait of Hormuz, despite a being signed on 17 June.
Analysts warn that the prospect of Ras Laffan production resuming to normal within weeks could be delayed amid renewed tensions, and the pace of a wider recovery and restart of operations such as the Helium2 plant hinge on . QatarEnergy suffered a setback when an during restart.
Heat signals observed on satellite imagery indicate activity at three of Ras Laffan’s 14 LNG trains (1 and 2 at Ras Laffan South, and 5 at Ras Laffan North) since early June.
