GAIL's LNG acquisition from Petronet cut to zero amid Strait of Hormuz restrictions

State-run gas utility GAIL (India) Limited on Thursday said LNG supplies under its long-term contract with Petronet LNG Limited have been reduced to zero with effect from March 4 after the supplier declared force majeure, citing navigation restrictions in the Strait of Hormuz and possible disruption at Qatar’s Ras Laffan facility.

QatarEnergy, Petronet LNG Limited (PLL)'s upstream LNG supplier, has also issued a communication indicating a potential Force Majeure event owing to the recent hostilities in the region.