The government’s recent decision to prioritize gas supply for household PNG and CNG has raised concerns about potential curtailments for industrial users. Analysts from Nomura estimate that a 20% reduction in gas supply to industrial and commercial segments could lead to a 3% decline in volumes for both Mahanagar Gas Limited (MGL) and Indraprastha Gas Limited (IGL).

Gujarat Gas Limited, which supplies approximately 49% of its total volume to industrial and commercial consumers, is expected to face a more significant impact, with estimates suggesting a 10% reduction in volumes.

Current Supply Situation

In the context of domestic LPG supply, the minimum waiting period for booking a refill in Noida has increased to 25 days, up from 21 days. This change affects around 10 lakh LPG connections in Noida and 12 lakh in Ghaziabad, with approximately 8,000 connections in Noida and 15,000 in Ghaziabad categorized as commercial.

Despite these challenges, the supply of PNG and CNG in the region has continued without interruption. The gas supply network in western Uttar Pradesh is connected to the Hazira-Vijaipur-Jagdishpur pipeline, which is operated by GAIL (India) Limited.

Government Response

Authorities have issued directives to ensure that domestic consumers do not experience inconvenience in LPG supply, reflecting the government’s commitment to maintaining essential services amidst the curtailment of industrial gas supply.

The prioritization of gas for household use may lead to a scarcity of gas for industrial and commercial applications, impacting companies like IGL, MGL, and Gujarat Gas. Observers are closely monitoring the situation as further developments unfold.

Details remain unconfirmed regarding the long-term implications of these supply changes on the gas market and the affected companies.

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Adani Total Gas shares jumped 13.08% to Rs 534.25 on March 11, 2026, following a reduction in LNG supply from the Middle East. The stock reached an intraday high of Rs 544.00 during trading hours.

The surge in share price is attributed to Qatar halting LNG production after an Iranian drone attack, which has raised concerns about the stability of energy supplies. India imports around 40% of its LNG from Qatar, making it particularly vulnerable to disruptions in this region.

In response to these supply challenges, Adani Total Gas has increased gas prices to Rs 119 per standard cubic metre. This adjustment reflects the ongoing volatility in global energy markets.

On the trading day, a total of 59.44 lakh shares were exchanged, with a traded value of Rs 316.62 crore. Despite the recent uptick, the stock has seen year-to-date returns of -9.74% and one-year returns of -10.21%.

The rise in Adani Total Gas Limited share price is due to supply problems arising from the ongoing conflict in the Middle East. Market analysts note that whenever international energy routes face disruptions, gas-linked companies in India often react quickly in the stock market.

The ongoing conflict has significantly affected global energy routes, particularly shipments through the Strait of Hormuz, which is a critical passage for oil and gas supplies.

As the situation develops, stakeholders in the energy sector will be closely monitoring the implications of these disruptions on both supply and pricing.

Details remain unconfirmed regarding the long-term impact of these events on Adani Total Gas and its market performance.

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The ongoing crisis in the Middle East has triggered a significant increase in gas prices in India, particularly affecting liquefied petroleum gas (LPG) and liquefied natural gas (LNG). As of March 11, 2026, the price of a 14.2 kg non-subsidised LPG cylinder in Delhi has reached ₹913.00, following a ₹60 hike implemented on March 7.

India imports around 60 percent of its total LPG demand, primarily from the Middle East. This heavy reliance on imports has made the country vulnerable to fluctuations in global energy markets. The current geopolitical tensions have disrupted supply routes, leading to increased costs for consumers.

Adani Total Gas Limited (ATGL) has seen its shares jump by 13.08 percent due to a price hike for industrial clients, reflecting the broader impact of these supply disruptions. The company has raised gas prices in response to the ongoing conflict, which has affected liquefied natural gas supply routes.

Gas-related stocks, including those of Adani Total Gas and Gujarat Gas, have rallied sharply, with increases of up to 15 percent. This surge is indicative of investor sentiment reacting to the tightening supply conditions in the energy market.

The Strait of Hormuz, a crucial global energy transit corridor, is currently facing severe disruptions amid regional tensions. These disruptions have heightened security risks for tanker movements, further tightening supplies. As a result, domestic cooking gas prices have increased, with commercial LPG prices rising by ₹114.5.

Additionally, European natural gas prices surged nearly 40 percent last week after Qatar Energy halted production at a key LNG facility due to the conflict in West Asia. This escalation in prices overseas is likely to have ripple effects on the Indian market.

Experts note that the conflict in the Middle East has started to significantly affect India’s energy market, particularly natural gas and LPG supplies. With nearly 60 percent of its LPG demand sourced from overseas, India is closely monitoring the situation.

As the crisis unfolds, the full extent of its impact on gas prices in India remains to be seen. Details remain unconfirmed regarding how long these price increases will persist and whether further hikes are on the horizon.

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