Key facts
- QatarEnergy extended force majeure on LNG deliveries until the end of 2026.
- Edison will not receive three further LNG cargoes at the Adriatic LNG terminal.
- Pakistan may pay over $1 billion for winter LNG supply on the spot market.
- European natural gas prices reached their highest level since autumn 2022.
QatarEnergy has extended its force majeure on liquefied natural gas (LNG) deliveries until the end of 2026, impacting supply to Europe and Asia. The state-owned firm informed Italy's Edison that it would not be able to deliver three further LNG cargoes to the Adriatic LNG terminal. The force majeure also affects South Asia, including Pakistan and Bangladesh, with Pakistan potentially paying over $1 billion for winter LNG supply on the spot market due to soaring prices. LNG flows at the Strait of Hormuz have not recovered, contributing to the price hikes.