GAIL (India)

By Florence Tan

BANGKOK, Sept 15 (Reuters) - China and India's LNG imports are likely to rebound from multi-year lows once the Middle East supply crunch ends and prices ease, industry executives expect, reversing a pick-up in coal and oil use to generate power due to the U.S.-Iran war.

The conflict has prevented Qatar and the United Arab Emirates from exporting most of their LNG via the Strait of Hormuz, where a fifth of global supplies used to pass, driving up prices and curbing demand in Asia.

Shell SHEL.L, the world's biggest LNG trader, estimates the world has lost about 36 million tons of LNG from the Middle East so far this year, President for Integrated Gas Cederic Cremers said.

Asia's spot prices have surged to nearly $30 per million British thermal units, from a pre-war range around $10 per MMBtu, as the region is competing with Europe for limited supplies ahead of winter.

"The prices have hit through the roof ... and that is definitely impacting the demand insofar as India is concerned because there are a lot of sectors which are price sensitive," GAIL GAIL.NS Chairman Deepak Gupta said at the Gastech conference in Bangkok.

"There are many industries which switch over to different fuels in case gas is not viable for them," said Gupta, who heads India's top natural gas distributor by market share.

Both GAIL and PetroChina 601857.SS, China's top LNG importer, have deployed their trading teams to scour for alternative cargoes to replace Qatari and Emirati supplies since the war broke out.

DEMAND DESTRUCTION NOT PERMANENT

Luo Yizhou, CEO of PetroChina International (PCI), the trading arm of the state energy major, said the company was working on the Sunday of February 28 in lieu of the Lunar New Year holiday when the U.S. and Israel launched attacks on Iran.

"We had a meeting for something else, planning for this year, and then suddenly we saw the news, and then we switched the topic to how to secure supply," Luo said.

"We were probably one day ahead of the market because most of the other companies start to work on Monday."

GAIL's Gupta said India had to limit gas consumption initially but resumed supplies to almost 90% to 95% as it ramped up its trading capability to buy LNG from elsewhere.

Both GAIL and PCI executives expect the Middle East conflict to have a temporary impact on demand in their countries, with consumption to rebound once prices fall and global supply recovers.

"We are hoping that all this is very short term, and in the coming days, in mid-term and long-term, things will become normal," Gupta said, adding that there may be about 150 million to 200 million tons of LNG coming online in the next four to five years which could cool prices.

"The sectors like the power sector in our country, like the various industries, they are going to go for more gas ... because it's a cleaner fuel," he said.

In China, PCI's Luo expects demand from gas-fired power plants to rebound once LNG prices return to a "normal" range of $7 to $9 per MMBtu, citing strong growth in electricity consumption even as LNG imports have fallen.

"I think it is due to the temporary suppression of the demand faced by high price," Luo said.

"I don’t think it will kill the demand in China."

(Reporting by Florence Tan, Emily Chow and Helen Clark; Editing by Sonali Paul)

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BANGKOK, Sept 14 (Reuters) - The chairman of GAIL GAIL.NS, India's top natural gas distributor by market share, said on Monday that liquefied natural gas prices of more than $20 per million British thermal units (mmBtu) have affected demand.

Deepak Gupta was speaking during an energy forum in Bangkok.

(Reporting by Florence Tan; Writing by Martin Petty; Editing by David Stanway)

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BENGALURU, Aug 27 (Reuters) - Diary of India economic, corporate events on August 27

ECONOMIC, CORPORATE .BSE500 EVENTS

(Compiled by Bengaluru Newsroom)

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Aug 21 (Reuters) - India's downstream petroleum and gas regulator said on Friday it has approved the laying of about 1,800 km of LPG pipeline infrastructure at an estimated investment of 70 billion rupees ($731.49 million).

The Petroleum and Natural Gas Regulatory Board said the pipelines will pass through six states: Telangana, Maharashtra, Uttar Pradesh, Uttarakhand, Karnataka and Goa.

• The projects have been authorised for development by India's top natural gas distributor GAIL India GAIL.NS, the regulator said.

• Upon completion, the country's common-carrier liquefied petroleum gas pipeline network will expand more than 23% to about 9,500 km.

• The plan reflects India's efforts to bolster energy-supply resilience as conflict in the Middle East and geopolitical risks raise concerns over fuel trade routes.

• India relies significantly on imported LPG, the regulator said, and the new pipelines are intended to improve the movement of supplies and the country's ability to respond effectively during supply disruptions and emergencies.

• The projects are also expected to reduce the movement of LPG tank trucks, improving road safety, lowering logistics costs and easing traffic congestion.

($1 = 95.6950 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru; Editing by Jonathan Ananda)

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Adds shares in paragraph 2

Aug 18 (Reuters) - India is offering incentives to gas distributors across cities to boost domestic connections of piped cooking gas, the government said on Tuesday, as the U.S.-Iran conflict disrupts fuel shipments and drives up import costs.

Shares of city gas distributors rose after the announcement, with Indraprastha Gas IGAS.NS climbing 3.5%, Mahanagar Gas MGAS.NS gaining 4% and Gujarat Energy GJAA.NS rising 0.5% on Wednesday.

India, the world's second-largest liquefied petroleum gas importer, has been using the cooking gas crisis sparked by the Middle East war to plug gaps in its distribution network and speed up the shift to piped gas in a bid to cut down on LPG imports and spending on subsidies.

• Under the incentive scheme, effective September, city gas distribution companies will get an additional 200 standard cubic metres of cheaper, domestically produced gas for every household they connect to, which starts using and paying for piped natural gas.

• The scheme will incentivise city gas distributors to turn unused pipe connections into active, paying customers, and extend the pipeline network to reach new households, the ministry of petroleum and natural gas said.

• The extra gas, which will lower overall gas-sourcing costs, is also expected to help distributors recoup their investment in new connections in about three years, down from roughly 10 currently, the government said.

• Since the start of the war, suppliers including Indraprastha Gas, Mahanagar Gas, GAIL Gas and Bharat Petroleum Corp BPCL.NS have offered incentives such as reductions in installation charges for piped gas connections.

• India currently has about 17.4 million domestic PNG connections, the government said Tuesday. That compares to about 331.4 million active household LPG customers as of July 1.

• India meets about 60% of its LPG needs through imports. It shipped in about 22 million metric tons of LPG in 2025, mostly from the Middle East, spending nearly $12 billion.

(Reporting by Chris Thomas in Mexico City and Kashish Tandon in Bengaluru; Editing by Diti Pujara and Ronojoy Mazumdar)

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Aug 18 (Reuters) - India is offering incentives to gas distributors across cities to boost domestic connections of piped cooking gas, the government said on Tuesday, as the U.S.-Iran conflict disrupts fuel shipments and drives up import costs.

India, the world's second-largest liquefied petroleum gas importer, has been using the cooking gas crisis sparked by the Middle East war to plug gaps in its distribution network and speed up the shift to piped gas in a bid to cut down on LPG imports and spending on subsidies.

• Under the incentive scheme, effective September, city gas distribution companies will get an additional 200 standard cubic metres of cheaper, domestically produced gas for every household they connect to, which starts using and paying for piped natural gas (PNG).

• The scheme will incentivise city gas distributors to turn unused pipe connections into active, paying customers, and extend the pipeline network to reach new households, the ministry of petroleum and natural gas said.

• The extra gas, which will lower overall gas-sourcing costs, is also expected to help distributors recoup their investment in new connections in about three years, down from roughly 10 currently, the government said.

• Since the start of the war, suppliers including Indraprastha Gas IGAS.NS, Mahanagar Gas MGAS.NS, GAIL Gas and Bharat Petroleum Corp BPCL.NS have offered incentives such as reductions in installation charges for piped gas connections.

• India currently has about 17.4 million domestic PNG connections, the government said Tuesday. That compares to about 331.4 million active household LPG customers as of July 1.

• India meets about 60% of its LPG needs through imports. It shipped in about 22 million metric tons of LPG in 2025, mostly from the Middle East, spending nearly $12 billion.

(Reporting by Chris Thomas in Mexico City; Editing by Diti Pujara)

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** Shares of state-owned natural gas distributor GAIL (India) GAIL.NS fall 4.7% to 173 rupees, set for biggest intraday pct drop since March

** Co on Friday reported 148% y/y increase in first-qtr net profit; rev from ops up 12% y/y

** Brokerages say Q1 profit beat was primarily due to increased arbitrage profit in gas trading, as co benefited from lower Henry Hub sourcing prices while making Brent price-linked sales

** Jefferies downgrades GAIL to "hold" from "buy"; raises TP by 5 rupees to 185 rupees, still expecting strength in gas transmission business and profitability in LPG

** Brokerage says factors leading to profit beat have reversed, as both HH and Brent prices have now normalized

** PhillipCapital anticipates partial reversal in profitability for GAIL in rest of the year; downgrades to "neutral" from "buy" (TP 185 rupees)

** GAIL on avg rated "buy" by 31 analysts; median PT is 187.50 rupees - LSEG-compiled data

** Stock roughly flat YTD

(Reporting by Abhirami G in Bengaluru)

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GAIL (India) held its Q1 FY27 earnings conference call on July 31, 2026, with management flagging several material revisions to the full-year outlook. FY27 natural gas transmission volume guidance was cut to around 123 MMSCMD from 134-135 MMSCMD guided in February, citing the continuing geopolitical situation. Gas marketing PBT guidance was raised to around Rs 4,500 crore, though management described the Q1 index-arbitrage benefit as largely short-term and expected margins to normalize. Capital outlay guidance was increased to around Rs 11,500 crore from Rs 9,000-10,000 crore, and the Usar PDH-PP plant's commissioning slipped to June 2027 or potentially December 2027 from calendar 2026. Q1 standalone PAT was Rs 4,292 crore, up 128% year-on-year, driven by gas marketing spreads and aided by LNG supply disruptions, including PLL force majeure and seven affected cargoes. Consolidated PAT excluding minorities was Rs 4,665 crore, up 214% year-on-year. Management cautioned that marketing, LHC, and petrochemical profitability would decline from Q1 levels as prices and spreads normalize.

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July 30 (Reuters) - GAIL (India) Ltd GAIL.NS:

• MAGELLANIC CLOUD LTD - UNIT GETS ORDER WORTH 127.6 MILLION RUPEES FROM GAIL

Further company coverage: GAIL.NS

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July 29 (Reuters) - Rashtriya Chemicals and Fertilizers Ltd RSTC.NS:

• RASHTRIYA CHEMICALS AND FERTILIZERS - CO AND GAIL ENTER MOU

• RASHTRIYA CHEMICALS AND FERTILIZERS - TO ESTABLISH GAS-BASED FERTILIZER PROJECT IN MAHARASHTRA THROUGH SPV

• RASHTRIYA CHEMICALS AND FERTILIZERS - PROPOSED UREA FACILITY PLANNED WITH CAPACITY OF 1.27 MMTPA

Source text: ID:nBSE5zn2bB

Further company coverage: RSTC.NS

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July 17 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL INKS PACT WITH KABIL TO STRENGTHEN COLLABORATION IN CRITICAL MINERALS - STATEMENT

Source text: [ID:]

Further company coverage: GAIL.NS

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July 9 (Reuters) - Container Corporation of India Ltd CCRI.NS:

• CONCOR AND GAIL SIGN LONG-TERM AGREEMENT FOR LNG DISPENSING STATION IN AHMEDABAD

• GAIL TO HAVE EXCLUSIVE OPERATIONAL CONTROL UNDER 15-YEAR AGREEMENT

• CONCOR TO DEPLOY 15 LNG-POWERED VEHICLES IN FIRST CONTRACT YEAR

Source text: ID:nBSE3JXgKT

Further company coverage: CCRI.NS

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May 22 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - CAPITAL ALLOCATION FOR FY2026-27 TOTAL 116 BILLION RUPEES

Source text: ID:nnAZN4SXX5M

Further company coverage: GAIL.NS

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GAIL (India) Ltd GAIL.NS:

• GAIL (INDIA) Q4 NET PAT 12.62 BILLION RUPEES

• GAIL Q4 REVENUE FROM OPERATIONS 347.97 BILLION RUPEES

Source text: [ID:]

Further company coverage: GAIL.NS

April 27 (Reuters) - Rudra Gas Enterprise Ltd RUDA.BO:

• RUDRA GAS ENTERPRISE LTD - ENTERING INTO AGREEMENT WITH GAIL (INDIA) AND GUJARAT GAS

• RUDRA GAS ENTERPRISE - GETS CONTRACT FOR LONG TERM SUPPLY OF CBG TO RETAIL OUTLETS OF GUJARAT GAS

• RUDRA GAS ENTERPRISE - MONTHLY BILLING OF 12.5 MILLION RUPEES

Source text: ID:nnAZN4SSWUD

Further company coverage: RUDA.BO

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April 15 (Reuters) - GAIL (India) Ltd GAIL.NS:

• TO INVEST 38 BILLION RUPEES IN 700 MW SOLAR PROJECTS IN UP AND MAHARASHTRA

• TO SET UP 100 MW SOLAR PROJECT WITH 22 MWH STORAGE IN MAHARASHTRA

• TO DEVELOP 600 MW SOLAR PROJECT WITH 550 MWH STORAGE IN UTTAR PRADESH

Source text: ID:nBSERdXBd

Further company coverage: GAIL.NS

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April 13 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - TO SET UP GREENFIELD 600 MW SOLAR PROJECT IN UTTAR PRADESH

• GAIL - INVESTMENT REQUIRED FOR PROJECT IS 32.95 BILLION RUPEES

Further company coverage: GAIL.NS

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April 9 (Reuters) - GAIL (India) GAIL.NS:

• GAIL INDIA EXEC: PLANS TO BORROW 50-60 BILLION RUPEES IN FY27

• GAIL INDIA EXEC: PLANS TO RAISE FUNDS FROM LOCAL MARKET

• GAIL INDIA EXEC: RAISING DEBT IN DOLLAR IS EXPENSIVE

• GAIL INDIA EXEC: RECENTLY BOUGHT 3 SPOT LNG CARGOES

• GAIL INDIA EXEC: OPERATING 5 MTPA RATNAGIRI LNG TERMINAL AT 2.25 MTPA CAPACITY

Further company coverage: GAIL.NS

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April 7 (Reuters) - GAIL (India) Ltd GAIL.NS:

• ENTERS LONG-TERM CHARTER PARTY AGREEMENT WITH ALPHA GAS FOR LNG CARRIER

Source text: ID:nBSE2YWl1G

Further company coverage: GAIL.NS

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By Krishna N. Das, Nidhi Verma and Saurabh Sharma

NEW DELHI, March 27 (Reuters) - As India's diplomats negotiated an accord that would ease punitive U.S. tariffs on the South Asian country's exports in January, New Delhi slashed its purchases of Russian crude oil in a move that was widely seen as a painful concession to President Donald Trump.

Just two months later, however, Delhi and Moscow are deepening their energy cooperation, with both sides agreeing to prepare for Russia to resume direct sales of liquefied natural gas for the first time since the start of the Ukraine war, according to two people familiar with the matter. If India decides to pursue the deal, which risks violating Western sanctions, negotiations could be concluded in weeks, one of the people said.

Details of the talks, which come amid skyrocketing energy prices triggered by the U.S.-Israeli attack on Iran, have not been previously reported. The "verbal agreement" to negotiate an LNG deal was reached during a March 19 meeting between Russian Deputy Energy Minister Pavel Sorokin and Indian Petroleum and Gas Minister Hardeep Singh Puri in Delhi, the people said.

The two officials also agreed to further increase crude oil sales to India, which could double from January's levels to at least 40% of India's total imports in about a month, three people familiar with their deliberations said.

India became a major buyer of Russian crude that was heavily discounted after the invasion of Ukraine, which became a point of contention with the Trump administration. The world's third-biggest oil importer and consumer purchased nearly $44 billion of crude from Moscow last year, playing a vital role in keeping the Kremlin's wartime economy alive.

India has separately told its energy importers to get ready to resume purchases of Russian LNG, one of the people said. Delhi has already approached Washington about a possible sanctions waiver, according to the source and a second person familiar with the request.

India’s external affairs and petroleum ministries did not respond to questions about the potential LNG deal. Foreign ministry spokesperson Randhir Jaiswal told reporters last week that Delhi was in talks with several countries to secure energy supplies, including LNG. Indian authorities have also said they are purchasing cargos of Russian liquefied petroleum gas, which is largely used for cooking and isn't under sanctions.

The Russian energy ministry declined to comment about any discussions with India, while the U.S. Treasury Department did not address questions about sanctions relief.

The White House and Ukraine's embassy in Delhi did not respond to requests for comment.

"India chose the course that best served its national interests, anchored in a long-standing and trusted partnership with Russia," said Ajai Malhotra, a former Indian ambassador to Moscow.

Delhi should now "demand exemptions or accommodations as a normal part of negotiation between strategic partners," he added, referring to Washington.

DOUBLE WHAMMY

While India has been courted by the United States for decades as a strategic counterweight to neighbouring China, the world's fifth-largest economy has now been left reeling twice in less than a year by decisions initiated largely in Washington.

After years of buying crude oil from Moscow at discounted rates, Delhi sharply curtailed purchases after Trump in August imposed tariffs of as high as 50% on Indian goods, or among the most punitive levied on any country. The U.S. Supreme Court has since ruled that Trump acted unlawfully in enacting such tariffs.

India's calculus quickly changed after the U.S. and Israel attacked Iran on February 28. Tehran's retaliation included targeting ships in the Strait of Hormuz, effectively shutting down the narrow strip through which about half of India's crude oil and LNG supplies pass.

Long lines have since been seen outside some Indian gas stations, while some restaurants have run out of cooking gas.

Demand for Russian energy exports, which when transported to Asian customers avoid the Gulf, has sharply increased across the region's economies.

India's state-owned refiners began ordering additional purchases of Russian crude in the hours before the U.S. on March 5 announced a temporary waiver that would allow Delhi to buy some sanctioned cargoes. As oil prices continued to climb, Washington further loosened restrictions.

Some Indian policymakers have lamented that Delhi cut Russian crude imports as a concession to the U.S., according to a government document seen by Reuters.

“India had reduced purchases of discounted Russian crude, which would have buffered the situation to an extent,” said the note, a briefing on the Middle East crisis that was prepared on March 20 for the cabinet secretariat.

It cautioned that a prolonged disruption of oil flows from the Middle East would prompt a cascade of economic challenges, "leading to higher inflation, a weaker currency and rising foreign debt.”

Export growth could take a hit of between 2% and 4%, it warned, adding that wholesale inflation could rise by between 0.3% and 0.7%.

WARMING TIES

Russia, which has maintained friendly ties with India since the Cold War, is pressing its advantage.

Any new LNG accord would likely contain less favourable terms for India as compared to the 20-year supply deal India's state-owned GAIL agreed with Russia's Gazprom in 2012, according to one of the sources. "It is now a seller's market," the person said.

Executives at Russian state power grid company Rosseti, who were in Delhi this month for an industry summit, also proposed working with their Indian counterparts on transmission facilities, largely in mountainous and remote areas of the country, one of the sources said.

If an agreement is reached, it would mark Moscow's first foray into India's power transmission sector.

Russia is also keen to expand air connectivity with India: Timofei Titarenko, an executive with St. Petersburg's Pulkovo Airport, told Reuters last week that he has been visiting Indian airports and exploring the possibility of more direct flights.

Chief Kremlin diplomat Sergei Lavrov told a conference on Indo-Russian relations this week that 96% of trade between the two countries is now conducted in rupees and roubles.

"The time-tested Russian-Indian friendship serves as an example of how interstate relations should and can be built – based on equality, mutual trust and respect, and consideration of each other's interests," he said.

Rupee-rouble transactions of up to $1 billion can now be processed in as little as a day, or more than twice as fast as just a few years ago, a top executive at the Indian branch of Russian lender Sberbank said at a Mumbai conference in March.

(Additional reporting by Jaspreet Kalra in Mumbai, Shivangi Acharya in New Delhi, Vladimir Soldatkin in Moscow and Jarrett Renshaw in Washington; Editing by Katerina Ang)

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March 25 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - ANNOUNCES EQUITY INVESTMENT IN GAIL GLOBAL (USA) INC.

• GAIL - GAIL WILL INFUSE EQUITY CAPITAL IN GGUI UPTO US$ 64 MILLION

Source text: ID:nBSE7pgPpL

Further company coverage: GAIL.NS

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March 24 (Reuters) - Suzlon Energy Ltd SUZL.NS:

• SUZLON ENERGY LTD - WINS ITS SIXTH REPEAT ORDER OF 100 MW FROM GAIL

Source text: ID:nNSExsLbM

Further company coverage: SUZL.NS

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** Shares of GAIL (India)GAIL.NS fall 4.76% to 136.11 rupees

** Antique Stockbroking flags volume-led disruption to earnings outlook and lower gas transmission volumes as key near-term risk for profitability visibility

** Says disruptions tied to supply-side constraints could weigh on pipeline utilisation and earnings trajectory

** However, broker notes current valuations remain attractive relative to historical averages and peers, offering medium-term comfort

** Adds structural gas demand outlook remains intact despite near-term volatility

** Stock rated "buy" on average by 33 analysts, median PT at 190 rupees -- LSEG data

** YTD, stock down more than 17%

(Reporting by Surbhi Misra in Bengaluru)

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March 19 (Reuters) - TruAlt Bioenergy Ltd TRUA.NS:

• GAIL INVESTS 130 MILLION RUPEES IN TRUALT BIOENERGY'S SUBSIDIARY LEAFINITI

Source text: ID:nBSE2NLHK4

Further company coverage: TRUA.NS

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SINGAPORE, March 18 (Reuters) - GAIL (India) GAIL.NS has issued a swap tender, offering two U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for two cargo deliveries to India, said two industry sources on Wednesday.

GAIL, India's largest gas distributor, is offering the cargoes for loading on a free-on-board (FOB) basis on April 22 at Sabine Pass, Louisiana, and on May 11 at Cove Point, Maryland.

In exchange, GAIL is seeking two cargoes for delivery on a delivered ex-ship (DES) basis to the Dahej terminal on April 1-7 and 8-15.

The tender closes on March 18.

(Reporting by Emily Chow; Editing by Tom Hogue)

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March 11 (Reuters) - GAIL (India) Ltd GAIL.NS:

• FITCH RATINGS: INDIAN OMCS, GAIL FACE NARROWER BUFFERS FROM PROLONGED IRAN SHOCK

Source text: ID:nFIT4QMhKY

Further company coverage: GAIL.NS

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By Sethuraman N R

NEW DELHI, March 10 (Reuters) - India will likely lean more on its coal capacity to meet peak power demand this summer as liquefied natural gas supplies tighten after shipping disruptions linked to the U.S.-Israeli war on Iran hit exports from major producers, two industry officials said.

New Delhi typically pushes power plants to ramp up generation during the April-June summer months, including costly gas-fired generation, to meet surging electricity demand and subsidises the cost for companies to shield customers from higher prices.

But so far the government has received no bids from power companies to supply 12,000 megawatt-hour of gas-based power for the summer months, an official with knowledge of the matter said. The tender will close in the next two days.

A second official said the power ministry is looking to bring coal plants out of planned outages and advising generators to avoid shutdowns during the peak summer months.

Top utility NTPC NTPC.NS has already told India's grid regulator it will not be able to supply gas-fired power during the April–June summer months, two company sources said.

NTPC and the federal power ministry did not respond to Reuters emails seeking comment.

EMERGENCY PROVISIONS

India has invoked emergency provisions and declared force majeure, reprioritising natural gas supplies to key sectors such as households and fertiliser plants.

India's Petronet LNG Ltd PLNG.NS, the country's top gas importer, has also issued a force majeure notice to customers including top power suppliers GAIL (India) Ltd, Indian Oil Corp IOC.NS and Bharat Petroleum Corp BPCL.NS after supplies from Qatar and Abu Dhabi National Oil Company were halted.

The country has about 20 gigawatts (GW) of gas-based generation capacity, which typically operates at 6-10% utilisation due to costly LNG, but rises to about 30% during the summer months.

Even if peak demand reaches 250–260 GW this summer, India is unlikely to face material power cuts given ample coal, lignite, nuclear, hydro and wind capacity, said Gautam Shahi, senior director at Crisil Ratings.

India relies on coal power for nearly 75% of its power generation.

"India's thermal coal market is seeing steady import demand, particularly for coal grades used by power producers," said Vasudev Pamnani, director at Gujarat-based coal trader i-Energy Resources.

(Reporting by Sethuraman NR; Editing by Saad Sayeed)

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March 9 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - GAIL SIGNS MOU WITH RAILTEL TO EXPLORE TELECOM BUSINESS OPPORTUNITIES

Source text: ID:nBSE4YfjDV

Further company coverage: GAIL.NS

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NEW DELHI, March 5 (Reuters) - India's GAIL (India) GAIL.NS said on Thursday it will assess curbing supplies to natural gas customers after a force majeure notice from long-term supplier Petronet LNG PLNG.NS over constraints on vessels as conflict escalates in the Middle East.

The U.S. and Israel's war on Iran has disrupted fuel shipments from the Gulf, affecting India's imports of liquefied natural gas from key supplier Qatar.

Fallout from the U.S.-Israeli attacks on Iran and a widening war has brought the transit of oil and LNG through the Strait of Hormuz to a near halt after some vessels in the area were hit.

The allocation of LNG from Petronet to GAIL has been reduced to zero with effect from March 4, GAIL said, adding that the potential impact from the force majeure could not be quantified.

LNG supplies to GAIL from other sources and suppliers are currently unaffected, the gas marketing company said in a statement to stock exchanges.

Petronet LNG, India's top gas importer, on Wednesday issued a force majeure notice to its supplier, QatarEnergy, and to local buyers like GAIL and Indian Oil Corp IOC.NS, after its LNG tankers were unable to reach the LNG loading terminal at Ras Laffan, it said in an exchange filing.

GAIL and IOC have already reduced gas supplies to industrial customers, Reuters reported on Tuesday.

India imported 27 million metric tons of LNG in 2024/25, about half of its overall gas consumption, according to government data. The bulk of the LNG comes from Qatar.

(Reporting by Sethuraman NR; Editing by Tom Hogue)

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