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Qatar declares force majeure, gas supplies to Indian industry cut

Share FacebookTwitterWhatsAppPinterestLinkedinCopy URLTelegramEmailTumblrReddItPrintKoo NEW DELHI, Mar 3 : Qatar, India’s largest supplier of imported natural gas, has declared force majeure on deliveries following a halt in production in the wake of an Iranian drone strike — a disruption that has led to a cut in supplies to Indian industry by up to 40 per cent, sources said. Qatar supplies about 40 per cent of the nearly 27 million tonnes of liquefied natural gas (LNG) that India imports annually to meet demand across sectors ranging from power generation and fertiliser production to CNG distribution and piped cooking gas networks. Gas importer Petronet LNG Ltd has informed gas marketers of Qatar halting its liquefied natural gas production after Iran continued to strike Gulf countries in retaliation for Israeli and US strikes against it, they said.

Qatar declares force majeure, gas supplies to Indian industry cut

Credit: Dailyexcelsior

Key Highlights

  • The attacks have also effectively brought oil and LNG shipments through the Strait of Hormuz to a near halt, driving up global energy prices as well as sharply raising war-risk insurance and shipping costs.
  • Iran controls the Strait — a vital maritime chokepoint through which roughly 50 per cent of India’s crude oil imports and around 54 per cent of its LNG supplies transit.
  • It is the transit for not just LNG from Qatar but also from the UAE.
  • Sources said Petronet has informed its gas offtakers, GAIL (India) Ltd and Indian Oil Corporation (IOC), about a halt in supplies from Qatar.
  • The gas marketers have, in turn, cut supplies to industries while maintaining flow rates for CNG retailing.
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Sources

  1. Qatar declares force majeure, gas supplies to Indian industry cut

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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