QatarEnergy's force majeure on Edison still covers 24 cargoes, about 3 billion cubic meters, through the end of September. Edison says it has replaced 17 at Adriatic LNG, about 1.6 billion cubic meters. [1] Wednesday publishes no new compatible arrivals for the other seven.

The paper's Tuesday ledger already treated the book as open. The 25-year contract still calls for 6.4 billion cubic meters a year. First-quarter operating profit halved. Full-year guidance was cut. [1]

EnergyNews put the uncovered remainder near 1.4 billion cubic meters in the summer injection window. [2] Replacement gas is bought against spot TTF and PSV, not the oil-indexed Qatari term. That is a price fact, not a winter cleared.

Until those seven cargoes show a terminal, a volume, and a bill, Italy has a procurement claim. It does not have a closed book.

A capability line from Edison is not a winter inventory. [1] Spot replacement in the injection window is a bet on TTF. The seven unnamed cargoes are still the hole. September 30 is still the notice horizon.

Seventeen named replacements do not close twenty-four notices.

-- HENDRIK VAN DER BERG, Brussels