Italy turns to Azerbaijan for gas as Qatar supply hit

Italy has launched negotiations with a number of countries, including the United States, Azerbaijan and Algeria, to secure alternative gas supplies as disruptions hit liquefied natural gas exports from Qatar, as per Reuters.

Italian Energy Minister Gilberto Pichetto Fratin said the supply shock was triggered by Iranian strikes targeting Qatar’s gas infrastructure, which have caused significant disruptions to production and exports.

“The fact that a previously halted LNG plant in Qatar was also bombed has had a devastating impact on prices,” the minister stated, highlighting the effect on global energy markets.

Despite the tightening supply situation, Pichetto Fratin stressed that Italy, in coordination with the European Union, has no plans to resume gas imports from Russia.

Data from QatarEnergy indicates that approximately 17% of the country’s LNG export capacity has been taken offline following the attacks. The disruption could result in annual losses of around $20 billion and poses a serious risk to gas supplies to both Europe and Asia.

By Tamilla Hasanova