Petronet LNG invokes force majeure as West Asia crisis disrupts Qatar shipments
India’s largest liquefied natural gas (LNG) importer, Petronet LNG, has issued a force majeure notice to supplier QatarEnergy and its domestic buyers after its vessels were unable to reach the Ras Laffan load port amid escalating tensions in West Asia, TOI reported.
In an exchange filing on Wednesday, Petronet said the ongoing US-Iran conflict has disrupted fuel shipments in the region, severely affecting maritime transit through the Strait of Hormuz between Iran and Oman. The strategic waterway handles around one-fifth of the world’s oil shipments and significant volumes of LNG, but traffic has nearly come to a halt after several vessels in the area were hit.
“Due to the prevailing security situation and the material risks posed to maritime navigation, the company has issued a Force Majeure Notice to QatarEnergy for its LNG tankers Disha, Raahi, and Aseem,” Petronet said in the notice issued late Tuesday.
The company has also issued force majeure notices to domestic customers including GAIL (India) Ltd, Indian Oil Corporation, and Bharat Petroleum Corporation Limited.
Petronet added that QatarEnergy has in turn informed the company about a potential force majeure event due to the hostilities prevailing in the region.
Shares of Petronet LNG fell sharply following the development. The stock dropped 9.3% to close at ₹281 on the BSE Ltd on Wednesday, after tumbling as much as 11.7% to ₹273 during the session.
Indian gas suppliers GAIL and Indian Oil have already reduced gas supplies to some industrial consumers, including fertiliser plants. Sources familiar with the matter said the lower supplies have marginally affected production at companies such as Indian Farmers Fertiliser Cooperative Limited (IFFCO) and Krishak Bharati Cooperative Limited (Kribhco).
However, companies have not announced any cuts in gas supplies for households or the automobile sector so far.
India imported about 27 million tonnes of LNG in FY25, accounting for roughly half of the country’s total gas consumption, according to government data. A large share of these imports comes from Qatar.
With inputs from TOI
In an exchange filing on Wednesday, Petronet said the ongoing US-Iran conflict has disrupted fuel shipments in the region, severely affecting maritime transit through the Strait of Hormuz between Iran and Oman. The strategic waterway handles around one-fifth of the world’s oil shipments and significant volumes of LNG, but traffic has nearly come to a halt after several vessels in the area were hit.
“Due to the prevailing security situation and the material risks posed to maritime navigation, the company has issued a Force Majeure Notice to QatarEnergy for its LNG tankers Disha, Raahi, and Aseem,” Petronet said in the notice issued late Tuesday.
The company has also issued force majeure notices to domestic customers including GAIL (India) Ltd, Indian Oil Corporation, and Bharat Petroleum Corporation Limited.
Petronet added that QatarEnergy has in turn informed the company about a potential force majeure event due to the hostilities prevailing in the region.
Shares of Petronet LNG fell sharply following the development. The stock dropped 9.3% to close at ₹281 on the BSE Ltd on Wednesday, after tumbling as much as 11.7% to ₹273 during the session.
Indian gas suppliers GAIL and Indian Oil have already reduced gas supplies to some industrial consumers, including fertiliser plants. Sources familiar with the matter said the lower supplies have marginally affected production at companies such as Indian Farmers Fertiliser Cooperative Limited (IFFCO) and Krishak Bharati Cooperative Limited (Kribhco).
However, companies have not announced any cuts in gas supplies for households or the automobile sector so far.
India imported about 27 million tonnes of LNG in FY25, accounting for roughly half of the country’s total gas consumption, according to government data. A large share of these imports comes from Qatar.
With inputs from TOI
