Second Hormuz LNG tanker strike widens force majeure, testing Milan's energy bill

A second tanker carrying Qatari liquefied natural gas was struck while leaving the Strait of Hormuz on Monday, according to Euronews, weeks after the Al Rekayyat was hit in the same area. The GasLog Shanghai was the latest vessel targeted, escalating a threat to one of Europe's key energy supply routes.

Italian utility Edison said QatarEnergy had extended force majeure on a further three cargoes, bringing the total affected to 24 shipments through September, Euronews reported. The widening disruption comes as Italy, and particularly the industrial north around Milan, depends heavily on imported gas to power its manufacturing and finance sectors.

For Lombardy, the region that drives Italy's export economy, every stranded LNG cargo translates into higher input costs for energy-intensive industries, from steel to chemicals. The Milan market, which tracks the national energy bill closely, faces renewed pressure on corporate margins as the summer heatwave simultaneously drives up electricity demand for cooling.