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Petronet LNG declares force majeure on LNG shipments amid Strait of Hormuz disruptionOn Monday (March 2), shares of Petronet LNG Ltd ended at ₹310.40, down by ₹12.95, or 4.00%, on the BSE.By Jomy Jos Pullokaran  March 3, 2026, 11:03:53 PM IST (Published)2 Min ReadIndia's biggest liquefied natural gas importer, Petronet LNG Ltd, on Tuesday (March 3), said that vessels are currently unable to safely transit through the Strait of Hormuz, also referred to as the Gulf of Hormuz, to reach Ras Laffan, the loading port of QatarEnergy, in light of the ongoing war in the Middle East involving Iran and Israel.

Considering the prevailing security situation and material risks to maritime navigation, the company has issued a Force Majeure notice to QatarEnergy in respect of its LNG tankers — Disha, Raahi and Aseem. QatarEnergy, as the company’s seller, has also issued a notice indicating a potential event of Force Majeure due to hostilities in the region.

Consequently, Petronet LNG has issued corresponding Force Majeure notices to its off-takers — GAIL (India) Limited, Indian Oil Corporation Limited and Bharat Petroleum Corporation Limited — under the relevant Gas Sale and Purchase Agreements on March 3, 2026. The company said acts of war are excluded under the Business Interruption Insurance coverage taken by Petronet LNG.

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It added that the likely impact of the Force Majeure, which is currently an ongoing event, cannot be estimated at this stage. The company said it is closely monitoring developments and will inform stock exchanges of any material updates.

Third Quarter Results

The company posted a 5.2% rise in net profit to ₹848.3 crore, compared with ₹806 crore in the previous quarter. Revenue grew 1.4% QoQ to ₹11,163 crore from ₹11,009 crore.

Operating performance improved during the quarter, with EBITDA rising 7.3% to ₹1,199 crore from ₹1,117 crore in the preceding quarter. The EBITDA margin rose slightly to 10.7% from 10.1% on a quarter-on-quarter basis.

The growth in profit was supported by the combined impact of higher revenue and a sharper rise in EBITDA. The improvement in margins indicates relatively stronger operating efficiency during the quarter.

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Petronet LNG’s Q3 results showed sequential gains across key financial indicators. While revenue registered moderate growth, the faster expansion in EBITDA helped lift overall profitability. The higher margins reflected better conversion of revenue into operating earnings.

On Monday (March 2), shares of Petronet LNG Ltd ended at ₹310.40, down by ₹12.95, or 4.00%, on the BSE.Continue Reading(Edited by : Jomy Jos Pullokaran)TagsBharat Petroleum CorporationGAILIndian Oil CorporationPetronet LNG