Economy

Edison 24 Force-Majeure Cargoes

QatarEnergy told Edison it cannot deliver three more LNG cargoes, extending force majeure through the end of September. Twenty-four cargoes are now under notice, about 3 billion cubic meters. [1] Edison says it has replaced 17 of them at the Adriatic LNG terminal, about 1.6 billion cubic meters, and can still serve customers. [1]

Seven cargoes remain uncovered. That gap is the story, not the press-release capability line. The paper's July 28 ledger already treated named withheld and replacement cargoes as a contract stage, not delivered shortage or proven household harm. Monday does not add compatible dates, prices, or arrivals for the missing seven.

The 25-year contract still calls for 6.4 billion cubic meters a year. First-quarter operating profit halved on the force majeure; full-year guidance was cut. [1] Replacement gas is bought against spot TTF and PSV, not the oil-indexed Qatari term. EnergyNews put the uncovered remainder at about 1.4 billion cubic meters, concentrated in the summer injection window. [2] Until those seven cargoes show a terminal, a volume, and a bill, Italy has a procurement claim, not a cleared winter.

-- HENDRIK VAN DER BERG, Brussels

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