NEW DELHI, Mar 3 — Indian firms have reduced natural gas supplies to industrial consumers in response to anticipated shortages from the Middle East following a production halt by top exporter Qatar, according to four industry sources familiar with the situation.
Qatar stopped its liquefied natural gas (LNG) output on Monday amid ongoing Iranian retaliatory strikes on Gulf countries following U.S. and Israeli attacks. The disruption has also affected oil and gas shipments through the Strait of Hormuz, pushing global energy prices and shipping costs higher.
As the world’s fourth-largest LNG importer, India depends significantly on Middle Eastern supplies, prompting companies to curb industrial allocations to manage the looming supply crunch.