EDF pauses Edison stake sale plan as gas supply uncertainty clouds outlook

By Reuters News

By Francesca Landini

MILAN, Oct 14 (Reuters) - France's EDF has put plans to sell a stake in its Italian subsidiary Edison EDNn.MI on hold due to uncertainty over gas supplies coming from Qatar, Edison's chief executive said on Wednesday, adding that the process could resume early next year.

The prolonged conflict between US and Iran has disrupted energy flows passing through the Strait of Hormuz, a key conduit for around one fifth of global liquefied natural gas (LNG) supplies before the start of the war.

Edison has been forced to replace LNG cargoes that QatarEnergy has cancelled since April.

In its last official notice, the Qatari energy group said it would not deliver LNG cargoes to Edison until at least the first half of December.

"At the moment, neither we nor, it seems, QatarEnergy are in a position to make longer-term forecasts. We hope deliveries can resume at the beginning of next year, but we have no visibility at this stage," Edison CEO Nicola Monti said.

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