In recent weeks, the energy landscape has been shaken by a series of attacks on Middle Eastern oil and gas infrastructure, particularly targeting Qatar’s Ras Laffan LNG hub. This facility is crucial for global LNG supplies, accounting for approximately 40% of India’s LNG imports. As tensions escalated, the situation reached a critical point when Iranian forces launched attacks that caused significant damage to the hub, sidelining 17% of Qatar’s LNG capacity for an estimated 3 to 5 years.

The ramifications of these attacks were felt almost immediately. On the day the news broke, European gas prices surged by 35%, reflecting the market’s anxiety over the potential long-term impacts of the supply disruption. The Strait of Hormuz, a vital passage for energy shipments, has been rendered nearly impassable due to ongoing hostilities, jeopardizing 40% to 50% of India’s crude imports and putting immense pressure on its energy security.

QatarEnergy’s CEO, Saad al-Kaabi, expressed disbelief at the extent of the damage, stating, “never in my wildest dreams” did he foresee such a disruption. With repairs projected to take several years, the outlook for LNG supply remains grim. India, which imports 85% to 90% of its oil, is particularly vulnerable to these disruptions, as it heavily relies on LNG and LPG supplies that transit through the Strait of Hormuz.

In response to the crisis, India is actively seeking alternative sources for LNG and LPG. Sujata Sharma, an energy analyst, noted, “We are trying to pick up the cargoes from other sources.” However, the urgency of the situation is underscored by the fact that 90% of India’s LPG imports also pass through the same perilous strait, complicating efforts to secure stable energy supplies.

As domestic production ramps up, India’s refineries have increased LPG output by about 36% to mitigate the impact of the supply disruption. Yet, experts warn that if the disruption through Hormuz persists, Indian buyers may be forced to procure higher-priced spot cargoes or reduce consumption altogether. Sumit Ritolia, an energy economist, cautioned that such measures could lead to increased costs for consumers and further strain the economy.

The geopolitical implications of these events are profound. India had previously called for the avoidance of targeting civilian infrastructure, including energy facilities, in the region. The ongoing instability not only threatens India’s energy security but also raises concerns about the broader implications for global energy markets.

As the situation continues to unfold, the international community watches closely. The damage to Ras Laffan has created a multi-year supply loss in the LNG market, which could have lasting effects on energy prices and availability worldwide. Details remain unconfirmed regarding the full extent of the damage and the timeline for recovery, but the urgency of addressing these disruptions cannot be overstated.

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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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“I think the current price increase in oil suggests the US will see $3.50 to $4 gasoline by next week, and $5 diesel this week,” stated Gregory Brew, highlighting the ripple effects of rising crude oil prices on the broader energy market. The price of crude oil has seen a significant increase, rising from approximately $67 per barrel before the onset of the conflict on February 28 to nearly $97 recently. This surge in oil prices has a direct correlation with the fluctuations in natural gas prices, which have also been affected by ongoing geopolitical tensions.

In January, India’s total consumption of natural gas reached 5,252 million metric standard cubic metres (MMSCM), with approximately 54% of this consumption met through liquefied natural gas (LNG) imports. The reliance on LNG is particularly critical as more than 50% of India’s imported LNG passes through the Strait of Hormuz, a vital shipping route that has faced disruptions due to the ongoing war.

As the situation unfolds, GAIL (India) Ltd has reported that its long-term supplier, Petronet LNG Limited (PLL), has issued a force majeure notice. This development raises concerns about potential supply curtailments, with GAIL currently assessing the situation regarding any necessary restrictions on its downstream customers. “GAIL is currently assessing the situation with respect to any supply curtailment that may need to be imposed on its downstream customers,” the company stated.

The cost of natural gas in the spot market has risen dramatically, reaching $25.40 per million British thermal unit (mbtu) amid the escalating tensions between the US, Israel, and Iran. This sharp increase in spot prices reflects the broader instability in energy markets, which are sensitive to geopolitical events.

In response to the rising costs, India’s oil marketing companies have raised liquefied petroleum gas (LPG) prices by an average of Rs 60 per cylinder. This increase is part of a broader trend as companies strive to manage the financial impacts of rising natural gas prices and ensure the availability of essential energy resources.

The disruptions caused by the war include the shuttering of the Strait of Hormuz, a key node in global transit and shipping. This has further complicated the energy supply chain, leading to increased prices and uncertainty in the market. The situation remains fluid, with various stakeholders closely monitoring developments that could affect supply and pricing.

As the market reacts to these developments, it is expected that further adjustments in pricing and supply strategies will be necessary. The ongoing assessment by GAIL and other companies will be crucial in determining how the natural gas price landscape evolves in the coming weeks.

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