As conflict between the United States and Iran disrupts shipping through the Strait of Hormuz, India faces rising energy risks. Nearly half its crude imports and large volumes of LNG pass through this narrow corridor, making distant tensions suddenly relevant at home
Petronet LNG, the country’s biggest LNG importer, has told stock exchanges that its tankers have been unable to reach Ras Laffan, Qatar’s main LNG export terminal, and that it has issued force majeure notices to domestic buyers. Gujarat Gas has also invoked force majeure on gas supply contracts with industrial consumers and begun restricting deliveries. (Force majeure is a contractual clause that allows a party to pause obligations when uncontrollable events disrupt performance.)