Jayanta Roy Chowdhury New Delhi, Mar 3 (UNI) Indian firms that use LNG are gearing up for cuts in supplies and higher prices for natural gas, which runs their turbines, arc furnaces, smelters, and other heavy machinery besides being feed for fertiliser and petro-chemical companies. Qatar which accounts for more than 40 per cent of India’s LNG supplies has announced shutting down of its liquefied natural gas facilities after Iranian drone strikes on Monday at the West Asian nation’s Ras Laffan complex. At the same time, the shipping price for very large oil tankers (called VLCCs) that can carry 2 million barrels of oil from West Asia to India, Japan, Korea and China reached a record high of USD 423,736, up by 94 per cent, according to the London Stock Exchange group.
