More Stories

Informist, Wednesday, Mar. 4, 2026

 

NEW DELHI – Petronet LNG Ltd. Tuesday said it has issued a force majeure notice to partners, including QatarEnergy, as its vessels are unable to safely transit through the Strait of Hormuz to reach Ras Laffan amid the ongoing military conflict in West Asia region. Petronet LNG procures liquefied natural gas from QatarEnergy, the world's largest producer of the commodity, under a contract.

 

"Acts of War is also excluded under Business Interruption Insurance covers taken by Petronet LNG. The likely impact of Force Majeure which is currently an ongoing event cannot be estimated at this point of time," the company said in an exchange filing.

 

Petronet LNG issued a force majeure notice to QatarEnergy for its liquefied natural gas tankers, namely Disha, Raahi, and Aseem. QatarEnergy on Tuesday said it has ceased LNG production following attacks on its operating facilities in Ras Laffan Industrial City. Petronet LNG has contracts to buy LNG from Qatar.

 

"Consequently, the Company has issued corresponding Force Majeure notices to its off-takers, namely GAIL (India) Limited, Indian Oil Corporation Limited (IOCL), and Bharat Petroleum Corporation Limited (BPCL), under the relevant Gas Sale and Purchase Agreements on 3rd March 2026," Petronet LNG said.

 

For the quarter ended December, Petronet LNG had reported a net profit of INR 8.48 billion on a revenue of INR 111.64 billion. Monday, shares of the company closed almost 5% lower at INR 308.65 on the National Stock Exchange.  End

 

Reported by Anand JC

Edited by Tanima Banerjee

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.