The war in Iran slows down LNG imports from Qatar to Italy until mid-August. Edison received the second notification of force majeure on the shipments it should have received from QatarEnergy, taking action and making up for the shortfalls with even more US liquefied gas. The Strait of Hormuz crisis continues to influence global energy routes and Italy is not excluded.
What happens to QatarEnergy
Today, Monday 25 May, QatarEnergy notified Edison of the cancellation of five additional cargoes of liquefied natural gas, extending the state of force majeure from the beginning of July until mid-August. As communicated by the Italian company itself, supplies destined for the Adriatic Lng regasification terminal in Rovigo are subject to a new cut. With the latest update, the total number of shipments canceled since the beginning of the emergency declared in April rises to 17, equivalent to a volume of approximately 2.2 billion cubic meters of gas.
Edison holds a long-term contract with the Qatari state giant lasting 25 years (started in 2009) which provides for the supply of 6.4 billion cubic meters of LNG per year, a volume capable of covering approximately 10 percent of Italy’s national needs.
What changes for Italian LNG supplies
Despite the problems caused by the war in the Middle East, Edison confirmed that it does not foresee any impact on end customers. To compensate for the lack of arrivals from the Gulf, even more LNG will arrive from the United States. The Italian utility had already replaced 9 of the 17 canceled loads, for a quantity of approximately 1 billion cubic meters of gas.
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Starting from June, Italy will receive new supplies directly from the US plant in Golden Pass. In general, LNG accounts for about a third of Italy’s annual gas needs, with the United States having increased its presence over time, replacing and exceeding Qatar’s supplies.