LNG

Edison CEO Nicola Monti has confirmed EDF suspended an IPO or sale of its minority stake in its Italian subsidiary Edison due to uncertainty over Qatari LNG deliveries, citing the lack of visibility over Qatari LNG deliveries and unfavourable market conditions. The process could resume in early 2027.

Italian utility Edison has confirmed that QatarEnergy will not deliver LNG cargoes to its Adriatic regasification terminal until the beginning of December 2026. The Qatari state company extended force majeure, saying it would not be able to deliver another six cargoes.

QatarEnergies has notified Edison that it is unable to deliver three LNG cargoes, extending force majeure until the end of September, the Italian utility stated. A total of 24 cargoes, representing a combined 3 bcm of natural gas, are now subject to force majeure over the April-September delivery window, with Edison saying it has already replaced most of the lost volumes.

Petrobangla is scrambling for spot LNG after QatarEnergy extended its force majeure until July 16, although the Bangladeshi state company keeps negotiating to receive at least 80% of its contracted LNG cargoes from Qatar.

QatarEnergy has extended force majeure on term LNG deliveries through mid-June, with Edison notified of a 10-cargoe shortfall while Petronet says it expects to receive its full contacted Qatari LNG volumes once Hormuz transits resume.

Shell has declared force majeure on LNG cargoes it buys from QatarEnergy after Qatar halted output at a 77 mtpa terminal at Ras Laffan and suspended exports. Impacts on supply and term pricing are expected to start from April, while March deliveries largely continue as scheduled.

French oil major TotalEnergies is determined to restart its Mozambique LNG project “quickly” for a budget of $20.5 billion, CEO Patrick Poyanne clarified, having asked Mozambique’s President for a $4.5 billion cost adjustment. These additional expenses were incurred during the project’s four-year suspension under force majeure, caused by militant attacks in Cabo Delgado province.

TotalEnergies, the developer of the onshore Mozambique liquefied natural gas project in southeast Africa, said it rejected a complaint filed against it in a Paris court alleging manslaughter and a failure to assist people in danger during the terrorist attacks that took place in northern Mozambique in March and April 2021.

Freeport LNG, has reportedly retracted its force majeure, leaving traders to source product on the spot market at significant losses, according to Reuters.

Global law firm Reed Smith announced its hiring of James Atkin as a partner in its global Energy and Natural Resources Group and London office, particularly specializing in liquefied natural gas.