QatarEnergy freezes LNG deliveries amid natural gas crisis

QatarEnergy has extended its force majeure on liquefied natural gas deliveries to European buyers through at least September 30, 2026, as the prolonged paralysis of the Strait of Hormuz continues to choke off exports from the world's largest LNG-exporting nation. According to a report published July 28 by Greek financial outlet Bankingnews, no LNG tankers have crossed the strait since July 16, cutting the sole maritime route through which Qatari cargoes reach global markets. The most exposed European buyer named in the report is Italy's Edison SpA, which holds a long-term contract with QatarEnergy dating back to 2009 for 6.4 billion cubic meters of gas per year. The force majeure period covers 24 LNG cargoes destined for Edison, equivalent to roughly 3 billion cubic meters of natural gas. The impact is already visible on company balance sheets: Edison's operating profit fell by about half in the first quarter, and the company has cut its full-year guidance, citing uncertainty over the Middle East conflict. The report notes that while Europe is feeling the squeeze, Asian markets, which absorb the bulk of Qatari LNG under long-term contracts with buyers in China, Japan, South Korea and India, are experiencing even sharper effects. The disruption is beyond Doha's control: the Strait of Hormuz, a narrow chokepoint between the Gulf and the Indian Ocean, carries all of Qatar's LNG exports, and QatarEnergy has no alternative export route. Qatar remains among the world's top LNG suppliers alongside the United States and Australia, and its North Field expansion program is designed to raise production capacity to 142 million tonnes per year by 2030, capacity that markets are counting on once shipping lanes reopen. For now, the extended force majeure signals that energy flows from the Gulf will remain hostage to regional security conditions at least through the end of September.