The extension, prompted by uncertainty surrounding the reopening of the Strait of Hormuz to commercial tanker traffic, affects LNG deliveries to buyers in Europe and Asia, potentially delaying shipments until mid-September or October 2026. This situation follows Iranian missile strikes in March 2026 that damaged Qatar’s Ras Laffan LNG complex, resulting in a 17% reduction in processing capacity. The ongoing geopolitical conflict has further complicated maritime operations, leading to multiple extensions of the force majeure declaration. Notably, Italian energy company Edison has reported significant impacts, with 24 affected cargoes translating to a loss of approximately 3 billion cubic meters of natural gas. As buyers turn to the spot market, LNG prices have surged, highlighting the urgency for countries to build gas inventories ahead of winter heating demands.