QatarEnergy Extends LNG Force Majeure to End-November as Hormuz Blockage Persists

QatarEnergy has extended its force majeure on LNG deliveries to Asia and Europe through the end of November, as cargo traffic through the Strait of Hormuz remains largely blocked amid the protracted U.S.-Iran standoff. The state-owned producer, formerly the world's second-largest LNG exporter, notified buyers in Bangladesh, Pakistan, India and Italy's Edison of the extension from end-October, sources told Bloomberg on Monday. Edison said its force majeure now runs to early December. Six months into the Iran war, Qatar has lost $24 billion in sales as exports fell by as much as 96%, Reuters calculations show. LNG cargoes shipped by Qatar dropped to 18 from 509 in the same period last year, per ICIS data. Ship-to-ship transfers outside the Strait have partially resumed but remain a fraction of pre-war volumes; LNG is harder to shuttle through Hormuz than crude.