By: OrePulse

QatarEnergy has extended a force majeure declaration on its liquefied natural gas deliveries through the end of 2026, deepening supply cuts to buyers in Europe and Asia and contributing to a surge in gas prices to their highest level since the 2022 energy crisis.

The force majeure, which has been in effect since April 2026, has now been extended to run through the end of the year, according to notifications sent to affected buyers. In Italy, the energy company Edison said QatarEnergy had informed it that three additional LNG cargoes would not be delivered to its Adriatic LNG import terminal.

The reduced deliveries also extend to long-term buyers in Pakistan and Bangladesh. Petrobangla chairman Abdul Mannan said Bangladesh is purchasing spot-market cargoes to cover the resulting shortfall, describing the purchases as coming "at a significant cost" that is adding to the country's import bill.

Pakistan expects to pay more than $1 billion for winter LNG purchases and plans to buy 10 spot cargoes to make up for the lost Qatari supply, at roughly double the price it pays under its long-term contract with Qatar.

Spot LNG prices in Asia have also risen to four-year highs.

In Europe, the Dutch TTF front-month contract, the continent's primary gas-trading benchmark, rose 1.5 percent on the day to $108.51 (97.53 euros) per megawatt-hour. That is its highest level since 2022, when Europe went through its first full winter largely without Russian pipeline gas supplies.

By contrast, Qatari LNG shipped via the Strait of Hormuz has yet to return to pre-disruption volumes, while regional crude oil exports have largely continued without interruption.