Edison SpA, the Italian arm of EDF, announced that QatarEnergy has extended a force majeure notice, impacting four additional LNG cargoes scheduled for delivery to Italy's Adriatic LNG terminal until early September. This extension raises the total number of affected cargoes to 21, which corresponds to approximately 2.7 billion cubic meters of natural gas.
The initial force majeure was declared in March following Iranian missile strikes that damaged two LNG production trains at Ras Laffan, significantly reducing Qatar's LNG output by 12.8 million tons annually, or about 17% of its total exports. Despite these disruptions, Edison has managed to replace 14 of the 21 cargoes with alternative supplies and does not anticipate any impact on its customers.
However, QatarEnergy has projected that the damage from the attacks could result in a staggering $20 billion in lost revenue per year and may take up to five years to fully repair. Edison has a long-term contract with QatarEnergy, established in 2009, for the annual supply of 6.4 billion cubic meters of natural gas to Italy