Hormuz strikes widen force majeure on Qatari LNG, testing Italy's energy bill

A second liquefied natural gas tanker was struck while leaving the Strait of Hormuz within a month, according to Euronews, as the Qatari producer extended force majeure on deliveries that Italian utilities rely on. The GasLog Shanghai was hit in the same area where the Al Rekayyat was attacked weeks earlier, the outlet reported on Monday.

Italian utility Edison said QatarEnergy had extended force majeure on a further three cargoes, bringing the total number of affected shipments to 24 through September, Euronews reported. The measure compounds a supply shock that had already pushed European gas prices higher and raised the cost of Italy's energy imports.

For Milan's trading desks and the industrial north, the extension is a direct hit to the region's advanced manufacturing base, which depends on stable energy prices to remain competitive against German and French rivals. Lombardy's factories and the city's financial sector watch the LNG supply chain closely, as any sustained disruption feeds through to the power prices that underwrite the region's export economy.

The Strait of Hormuz is the world's most important chokepoint for LNG, with Qatar accounting for a significant share of global exports. The strikes mark a serious escalation in a month that has already seen one tanker hit in the same waters, and the widening of force majeure suggests producers are bracing for a prolonged disruption rather than a brief interruption.

Italy is among the European countries most exposed to Qatari LNG, having expanded its regasification capacity in recent years to reduce dependence on Russian pipeline gas. The Piombino and Ravenna floating terminals were brought online as part of that diversification strategy, but they rely on contracted cargoes from Qatar and other producers that now face transit risk through the strait.

The Italian government has not publicly commented on the latest strike, according to the wire, but the energy regulator and grid operator are likely monitoring the situation closely. Edison's confirmation of the extended force majeure suggests that some of the 24 affected shipments were destined for Italian terminals, though the utility did not specify which cargoes were impacted.

For Lombardy, the stakes are concrete: the region consumes a disproportionate share of Italy's industrial energy, and its manufacturing sector — from automotive components to pharmaceuticals — operates on thin margins that energy price spikes can erode quickly. The Milan stock exchange's utility and energy names have historically moved on such supply news, and traders will be watching the next cargo schedules for signs of further disruption.

European energy prices had already been under pressure from the summer heatwave, which has driven up cooling demand across the continent. The Guardian reported that south-eastern Europe faces an energy crunch as the heatwave strains power grids, and the additional LNG supply loss will only tighten the market further as storage sites are drawn down ahead of winter.