LNG stocks slide as Iran strike hits Qatar gas hub
What's the story
Shares of Petronet LNG and GAIL (India) have witnessed a sharp decline of up to 5.85% on the National Stock Exchange (NSE). The fall comes after reports of an Iranian missile strike at Ras Laffan, the world's largest liquefied natural gas (LNG) facility in Qatar. Petronet's shares fell by as much as 5.85% to an intraday low of ₹274.55 today, while GAIL's shares hit an intraday low of ₹146.2, down by 3.15%.
Market impact
Impact of Ras Laffan attack on LNG supply
The stock market decline is driven by fears of possible disruptions in LNG supply. Ras Laffan serves as a major global export hub and any damage to its infrastructure could create uncertainty over gas availability and pricing. This directly affects companies that rely on LNG imports, such as Petronet and GAIL.
Attack details
Iranian missile strike hits Qatar's Ras Laffan LNG facility
The Iranian missile strike on Ras Laffan has resulted in a fire, which authorities are working to contain. QatarEnergy confirmed that several LNG facilities were hit, causing fires and extensive damage. However, no casualties have been reported so far. The attack comes amid escalating regional tensions after Israel targeted Iran's South Pars gas field, prompting Tehran to warn that energy facilities in Qatar, Saudi Arabia and the UAE could be "legitimate targets."
Official response
Qatar condemns missile attack, warns of regional consequences
Qatar's Foreign Ministry has strongly condemned the missile attack on Ras Laffan, calling it a "brutal" act and a "flagrant violation" of the country's sovereignty and national security. The ministry warned that such escalation threatens wider regional stability and international peace. It also accused Iran of pursuing an irresponsible approach that is pushing the region toward crisis while emphasizing Qatar's consistent calls for restraint to protect civilian and energy infrastructure.