Qatar's Energy Minister Saad al-Kaabi has warned that continued conflict with Iran could lead to a force majeure declaration from all Gulf energy producers, halting exports and affecting global energy markets. The situation has escalated, with Iranian missile strikes targeting Gulf energy infrastructure, causing a spike in gas prices. This disruption has already led Qatar to halt LNG production, which constitutes about 20% of the global supply, and analysts are concerned about the long-term ramifications for energy markets and global economies.
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India's GAIL Cuts Gas Supplies Following Petronet LNG Force Majeure
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The ongoing U.S./Israeli-Iran conflict has disrupted LNG shipments from Qatar, severely impacting Indian industries reliant on gas imports. With force majeure declarations from suppliers, gas rationing is underway in India, raising concerns over global energy supply and prices.
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