Qatar halts LNG output: Gas stocks tumble amid crisis impact; Petronet LNG leads the fallQatar halts LNG output: Gas stocks tumble amid crisis impact; Petronet LNG leads the fall

Introduction

Leading oil and gas and city gas distribution firms faced supply disruptions as Qatar halted LNG deliveries following a drone strike, affecting power, fertiliser, and household gas sectors.

Also Read: Bondada Engineering: Stock in focus after commissioning 61.7 MW solar projects in Maharashtra

Qatar LNG Force Majeure Impacts India

Shares of oil, gas, and CGD companies, including GAIL, Petronet LNG, Gujarat Gas, Indraprastha Gas, Mahanagar Gas, and Adani Total Gas, were in focus on March 4 after the Middle East crisis escalated.

Qatar declared force majeure on LNG deliveries following a production halt caused by an Iranian drone strike. The move temporarily releases Qatar from contractual obligations for supply.

Force majeure protects a supplier from penalties when unforeseen events prevent contract fulfillment. The clause applies in cases such as natural disasters, strikes, or security incidents like the drone strike.

India imports nearly 27 million tonnes of LNG annually, with Qatar supplying 40% of the total. LNG supports power generation, fertiliser production, CNG distribution, and piped cooking gas networks nationwide.

Long-Term Outlook for Oil Stocks

Shares of Indian oil and gas companies may see varied impacts depending on the duration of supply disruptions from Qatar. Recovery depends on resumption of long-term LNG contracts.

Higher global energy prices could benefit revenue for companies owning energy infrastructure. Indian firms may diversify supply sources and renegotiate contracts to mitigate risks. Market valuations will reflect these adjustments.

Prolonged disruptions could affect profit margins, cash flows, and capital expenditure plans. Investors and analysts will closely monitor supply restoration and contract renegotiations for future earnings impact.

Also Read: Abbott teams up with Novo Nordisk to boost semaglutide access in India; key details inside

Gas Companies’ Stock Performance

GAIL (India) Ltd

On March 4, 2026, GAIL (India) Ltd opened at ₹160.00, down 3.10% from its previous close of ₹165.10. The stock reached a high of ₹160.50 (–2.72%) and a low of ₹154.05 (–6.70%). By 1:26 PM, it traded at ₹155.90, a 5.57% decline, with a market cap of ₹1,02,505.80 crore.

Petronet LNG Ltd

On March 4, 2026, Petronet LNG Ltd opened at ₹296.55, down 4.11% from its previous close of ₹309.15. The stock reached a high of ₹296.60 (–4.11%) and a low of ₹273.00 (–11.69%). By 1:26 PM, it traded at ₹282.50, an 8.62% decline, with a market cap of ₹42,375.00 crore.

Gujarat Gas Ltd

On March 4, 2026, Gujarat Gas Ltd opened at ₹384.85, down 3.38% from its previous close of ₹398.45. The stock reached a high of ₹396.25 (–0.30%) and a low of ₹382.40 (–4.01%). By 1:27 PM, it traded at ₹395.00, a 0.87% decline, with a market cap of ₹27,191.41 crore.

Indraprastha Gas Ltd

On March 4, 2026, Indraprastha Gas Ltd opened at ₹164.55, down 1.40% from its previous close of ₹166.80. The stock reached a high of ₹165.20 (–0.96%) and a low of ₹157.30 (–5.72%). By 1:27 PM, it traded at ₹159.15, a 4.59% decline, with a market cap of ₹22,281.03 crore.

Mahanagar Gas

On March 4, 2026, Mahanagar Gas Ltd opened at ₹1,155.65, down 4.41% from its previous close of ₹1,209.25. The stock reached a high of ₹1,186.15 (–1.92%) and a low of ₹1,100.80 (–8.90%). By 1:28 PM, it traded at ₹1,116.90, a 7.64% decline, with a market cap of ₹11,032.49 crore.

Stay Ahead with the Latest Stock Market Updates – Click Here

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

FAQs