Israel-US vs Iran War Live Updates: Indian Firms Cut Gas Supply as Qatar Halts LNG Production, Europe Prices Surge 30%
Amid the intensifying Israel-Iran conflict, Indian companies have reduced natural gas supplies to industries in anticipation of tighter availability from the Middle East energy market. The move follows reports that Qatar, one of the world’s top LNG producers, has halted LNG production, triggering fresh volatility in the global gas supply chain.
Industry sources told Reuters that Petronet LNG Ltd, India’s leading gas importer, informed GAIL (India) and other firms about reduced cargo availability. The supply squeeze comes as European gas prices have surged by more than 30 percent since the launch of the US-Israeli military campaign on Iran, reflecting growing fears of prolonged disruption in the region.
India, the world’s fourth-largest LNG importer, depends heavily on the Middle East for its energy needs. It is the top LNG customer of the Abu Dhabi National Oil Company (ADNOC) and the second-largest buyer of Qatari LNG, making it particularly vulnerable to any Gulf energy supply disruption.
Energy analysts warn that continued instability in the Strait of Hormuz corridor and wider Middle East war escalation could push prices even higher, impacting industrial output and economic growth across Asia and Europe amid the expanding US-Iran-Israel geopolitical crisis.
