Qatar Energy Extends "Force Majeure" on LNG Shipments to Edison Company

Edison announced on Tuesday that Qatar Energy has informed it of its inability to deliver three shipments of liquefied natural gas (LNG), consequently extending the "force majeure" status until the end of September. This brings the total number of LNG shipments under force majeure during this period to 24, representing an estimated total volume of approximately three billion cubic meters of natural gas. For its part, Edison, a unit of the French energy group EDF, affirmed its capacity to provide alternative gas to all its customers and fully meet its commercial obligations. It is worth noting that Edison has a long-term contract with Qatar Energy to supply 6.4 billion cubic meters of natural gas annually to Italy. This contract spans 25 years and came into effect in 2009. In a related development, Edison's operating profits halved in the first quarter of the year, primarily due to the negative impact of the "force majeure" declared by Qatar Energy. The group subsequently revised down its full-year outlook as a result of the uncertainty stemming from the conflict in the Middle East.