Petronet LNG Limited has issued Force Majeure notices to its off-takers, GAIL (India) Limited, Indian Oil Corporation Limited (IOCL), and Bharat Petroleum Corporation Limited (BPCL), on March 3, 2026. This action is a consequence of the ongoing war in the Middle East, specifically involving Iran and Israel, which has made transit through the Strait of Hormuz unsafe. The disruption affects vessels en route to Ras Laffan, QatarEnergy's loading port. Due to the security situation and risks to maritime navigation, Petronet LNG has also issued a Force Majeure Notice to QatarEnergy concerning its LNG tankers: Disha, Raahi, and Aseem. QatarEnergy, as the seller, has indicated a potential event of Force Majeure stemming from the regional hostilities. Petronet LNG has stated that Acts of War are excluded under its Business Interruption Insurance. The company is currently unable to estimate the impact of this ongoing Force Majeure event and is closely monitoring developments, promising to inform stock exchanges of any material updates.
