Petronet LNG Invokes Force Majeure Amid Middle East Conflict

Petronet LNG Ltd, a leading LNG company, has invoked a Force Majeure notice to QatarEnergy due to the ongoing war in the Middle East. The conflict has made it unsafe for vessels to transit through the Strait of Hormuz, affecting the company's LNG tankers, Disha, Raahi, and Aseem. QatarEnergy, the company's seller, has also indicated a potential Force Majeure event due to the hostilities. Petronet LNG has further issued corresponding Force Majeure notices to its off-takers, GAIL (India) Limited, Indian Oil Corporation Limited, and Bharat Petroleum Corporation Limited. The likely impact of this ongoing event cannot be estimated at this point. The company is closely monitoring the situation and will keep the stock exchanges informed of any material updates.