GAIL weighs gas supply cuts after Petronet force majeure
GAIL is assessing gas supply cuts after a force majeure from Petronet LNG. Middle East conflict has disrupted fuel shipments through the Strait of Hormuz.
GAIL INDIA LTD -144A GDR announced on Thursday that it will assess curbing supplies to its natural gas customers in India following a force majeure notice from its long-term supplier, Petronet LNG Limited. The disruption stems from significant constraints on shipping vessels as conflict escalates across the Middle East.
The ongoing war involving the United States and Israel against Iran has severely hampered fuel shipments through the Gulf region. This instability has brought the transit of Brent Crude Oil and liquefied natural gas (LNG) through the Strait of Hormuz to a near halt after several vessels were targeted in the area. These developments have specifically impacted critical imports from Qatar, which serves as a primary energy source for the Indian market.
