Qatar's Gas Cut: India Faces Soaring CNG, PNG Prices Amid Mideast Tensions

• Qatar, India's largest natural gas supplier, declared 'Force Majeure' on supplies after an Iranian drone attack halted its largest LNG project.
• This decision, linked to the Israel-Iran conflict, will lead to a 10-40% gas supply cut for Indian industries, impacting CNG/PNG prices.
• India relies on Qatar for 40% of its LNG imports, used for power generation, fertilizer factories, CNG, and PNG.
• The Strait of Hormuz, vital for India's oil and gas, is now a dangerous route due to regional tensions, increasing shipping costs and insurance.
• India's Petronet LNG Limited informed GAIL and Indian Oil (IOC) of the shortage; spot market purchases are an expensive alternative.