Petronet, GAIL Crash 5% as Iran Hits Qatar's Ras Laffan
Stocks Plunge on Attack Petronet LNG crashes 5.7% to ₹274.55, later recovers to ₹278 (down 4.33%). GAIL falls 3.2% to ₹146.10. Selloff intensifies after Iran missile strike news
Extensive Facility Damage Iran missiles hit Ras Laffan—world's largest LNG facility producing 20% global supply. QatarEnergy CEO confirms 17% export capacity destroyed. Repairs need 3-5 years
India's Supply Paralyzed Qatar supplies 40% of India's LNG, 90% LPG. Petronet LNG imports 7.5 million tonnes/year. 47.4 MMSCMD gas supply under force majeure, affecting fertilizers, CNG/PNG
Force Majeure Extended Long-term contracts to Italy, Belgium, South Korea, China suspended for up to 5 years. Alternative LNG sourcing from US/Australia will take months, cost 2-3x more
Margin Compression Ahead Gas-dependent sectors, fertilizers, city gas distribution, power, face severe input cost spikes. Analysts downgrade Petronet, GAIL to 'Reduce'. Government scrambles for Russian LNG, coal plants restart desperately