QatarEnergy’s largest Italian customer Edison forecasts that it will receive about two-thirds of its contract LNG volumes between 30 to 45 days after any peace deal between the US, Israel, and Iran, Edison CEO told Reuters on May 8.

The news comes just days after Edison revealed on May 5 that QatarEnergy had notified the Italian utility that it would cancel two more LNG cargoes and extend its force majeure. In total, 12 cargoes have already been cancelled that had been scheduled to be delivered between April and early July.

“If there were a lasting peace agreement tomorrow morning, I think that within a month, or a month and a half, producers in the Gulf area could resume producing energy,” Edison CEO Nicola Monti told Reuters.

Edison holds a long-term agreement with QatarEnergy for the supply of 6.4 bn cubic metres of LNG per year, which is about 10% of Italy's total annual LNG consumption.

While Edison will not receive any cargoes from QatarEnergy’s Ras Laffan Industrial Complex until July at the earliest, it is expected to begin receiving cargoes in June from Golden Pass LNG, which is located in Texas and a joint venture between ExxonMobil and QatarEnergy.

The cargoes will be shipped to Italy’s Adriatic LNG terminal situated close to Porto Levante in northeastern Italy. Eight LNG cargoes that were ​cancelled have already been replaced.

Italy’s state-controlled Eni is also a  long-term buyer of LNG supply from QatarEnergy, with a sales and purchase agreement (SPA) slated to begin deliveries in 2026  for up to 1mn tpy of the super-chilled fuel. 

Approximately 17% of global LNG supply is currently sidelined as the Strait of Hormuz is blockaded by Iran preventing both Qatar and the United Arab Emirates from shipping cargoes and causing spot market prices to soar.