Italian gas importer Edison stated on Wednesday that Qatar may extend the force majeure status on its natural gas supplies beyond mid-June. The company anticipates the resulting supply gap will be filled by US liquefied natural gas (LNG), rather than Russian gas.

Edison holds a long-term contract with QatarEnergy for an annual supply of 6.4 billion cubic meters of LNG, accounting for approximately 10% of Italy's yearly consumption. This contract, which began in 2009, spans 25 years. Last month, citing the Middle East conflict and ongoing hostilities in the Strait of Hormuz, QatarEnergy informed Edison it would be unable to fulfill its contractual obligations for 10 cargoes, equivalent to 1.4 billion cubic meters of gas, between April and mid-June. According to QatarEnergy's Chief Executive, an attack by Iran last month incapacitated 17% of the company's LNG export capacity.

Edison's Chief Executive, Nicola Monti, stated during a media briefing that following QatarEnergy's cancellation of the 10 LNG cargoes from April to mid-June due to the Middle East war, the Italian group has purchased seven LNG cargoes from the United States. Monti expressed confidence in US LNG supply capabilities, pointing to the start-up of two US LNG plants this year—Venture Global's Plaquemines project and the Golden Pass project, the latter partly owned by QatarEnergy and ExxonMobil. He noted that other facilities are also under construction. Monti predicted, "The market will return to a structural balance within the next 18 months."

Monti indicated that the previously anticipated LNG supply surplus, expected around 2027-2028, might now be delayed until 2029-2030 due to the temporary gas shortfall from the Middle East. When asked if Europe should reconsider its planned ban on Russian LNG imports, Monti said, "I believe the current market, although tight, offers sufficient flexibility and options, enabling us to continue securing supplies from other regions." He emphasized that deliveries to Edison's end customers in Italy are not at risk, as the company has implemented mitigation measures and portfolio management activities to address the current situation. QatarEnergy could not be immediately reached for comment outside of normal business hours.