March 25, 2020 / 12:00 PM / 16 days ago

Indian gas importer issues force majeure notice to Qatargas - sources

NEW DELHI/SINGAPORE (Reuters) - India’s top gas importer Petronet LNG has issued force majeure notice to Qatargas seeking to delay loading of liquefied natural gas (LNG) cargoes under long-term deals as local gas demand has dropped, two sources familiar with the matter said.

“It seems demand will fall drastically as industrial production is curtailed to a great extent and demand for gas will fall further,” said one of the sources, after India imposed a lockdown to prevent the spread of the coronavirus.

Petronet and Qatar Petroleum, the parent of Qatargas, did not immediately respond to Reuters’ emails seeking comment.

Reporting by Nidhi Verma; Editing by Edmund Blair

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