QatarEnergy has extended its force majeure notices, meaning it will be unable to supply liquefied natural gas (LNG) to Bangladesh and some other Asian customers until November, according to two trading sources cited by Reuters.
QatarEnergy extended the notices as the Strait of Hormuz remains closed amid the ongoing conflict. Italy’s utility company Edison, one of QatarEnergy’s major European customers, also said Monday that it would not receive LNG cargoes until early December.
Edison had first received a force majeure notice in April following supply disruptions caused by the US-Iran war. The notice has since been extended several times.
Two trading sources told Reuters that customers in Asia, including Bangladesh and Pakistan, had also been informed that the force majeure period would continue until November. QatarEnergy did not immediately respond to a request for comment.
Qatar is among the countries facing major economic losses from the Iran conflict. According to Reuters’ calculations, Qatar’s LNG exports had fallen by 96% by the end of August.
While exporters from neighbouring Gulf countries have managed to move oil through the Strait of Hormuz using discreet shipping methods, Qatar’s LNG exports have been severely affected.
Data from intelligence firm ICIS showed that Qatar exported only 18 LNG cargoes through the end of August, compared with 509 during the same period last year.
The prolonged disruption is also increasing competition for limited LNG supplies as Europe prepares for the winter heating season, putting additional pressure on Asian buyers.
