Edison, Pakistan Gas Buyers Face QatarEnergy Supply Halt Until Year-End
The extension leaves Edison and Pakistani buyers without contracted cargoes and pushes European gas prices to their highest level since 2022, Reuters said.
- On Tuesday, Italian utility Edison received notice from QatarEnergy extending force majeure on LNG deliveries to the Adriatic LNG terminal through year-end, impacting around 10% of Italy's annual gas consumption.
- Ongoing disruptions from the Iran war, which began in late February, restrict LNG production in Ras Laffan Industrial City and block critical flows at the Strait of Hormuz, hiking European and Asian prices.
- QatarEnergy cancelled additional cargoes for Edison, while Pakistani clients face extended supply halts, forcing their government to source spot market cargoes at double the long-term contract price.
- Pakistan will pay over $1 billion to secure winter supplies, while benchmark Dutch gas prices surged above 95 MWh, approaching levels unseen since the 2022 energy crisis.
- Europe and South Asia face winter energy shortages as term supply remains unavailable. Petrobangla chairman Abdul Mannan said reliance on expensive spot markets puts "considerable pressure on our finances.
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Edison, Pakistan gas buyers face QatarEnergy supply halt until year-end
Gas nightmare at the gates of winter: Qatar cuts other loads to Edison, European list in flames. Italy will not receive three loads Article Qatar will not send LNG until 2027, and Italy is among the customers in trouble comes from Economic Scenarios.
Until the end of this year Italy will not be able to count on the gas imported from Qatar, a block that lasts The article Gas from Qatar, block until the end of 2026. It is worth 8% of the annual requirements, we will save it on the bills comes from daily Blitz.
The TTF marks 98.50 euros per megawatt hour, maximum from 2022, after extending QatarEnergy's force majeure until 31 December.The entry The price of gas is skyrocketing to 98 €/MWh, maximum from 2022, after extending QatarEnergy's force majeure appears first on Merca2.
In mid-March, Iran retaliated against an Israeli attack on the South Pars gas field by attacking gas facilities in Qatar's Ras Laffan, destroying 17 percent of Qatar's export capacity.
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