Daijiworld Media Network – New Delhi
New Delhi, Mar 5: India’s largest LNG importer Petronet LNG has issued a force majeure notice to its supplier QatarEnergy and key domestic buyers after its vessels were unable to reach the Ras Laffan load port due to escalating tensions in West Asia.
In an exchange filing on Wednesday, Petronet said the prevailing security situation and material risks to maritime navigation have prevented its LNG tankers — Disha, Raahi and Aseem — from operating normally. The disruption follows heightened hostilities in the region that have severely impacted transit through the Strait of Hormuz, a critical energy corridor between Iran and Oman that handles nearly one-fifth of global oil trade and significant LNG volumes.
Petronet has also declared force majeure to domestic customers including GAIL (India), Indian Oil Corporation, and Bharat Petroleum.
The company further said QatarEnergy has separately issued a notice indicating a potential force majeure event due to ongoing regional hostilities.
Following the announcement, Petronet’s shares fell sharply. The stock declined 9.3 per cent to close at Rs 281 on the BSE, after tumbling as much as 11.7 per cent during intra-day trade to Rs 273.
Sources indicated that gas supplies to certain industrial consumers have already been curtailed. GAIL and Indian Oil have reportedly reduced gas allocations to sectors including fertiliser manufacturing. Production at companies such as Indian Farmers Fertiliser Cooperative (IFFCO) and Kribhco Fertilizers has been marginally affected due to lower gas availability.
However, there have been no announcements so far regarding supply cuts to households or the automobile sector.
India imported 27 million tonnes of LNG in 2024-25, accounting for roughly half of its total gas consumption, according to government data. A significant portion of these imports comes from Qatar, making the current disruption a matter of concern for energy security.
With tensions in the Gulf showing little sign of immediate easing, industry observers say the situation could tighten gas availability further if shipping disruptions persist.