Petronet LNG, GAIL Shares Fall as Ras Laffan Industrial City Hit by Iran Missile Strike

Petronet LNG and GAIL India stocks fell on March 19 after Qatar said a missile strike by Iran damaged a facility at Ras Laffan Industrial City, prompting a gas supply disruption concern.

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Petronet LNG shares fell as much as 5.85% to an intraday low of ₹274.55 on the NSE. The stock opened 2.74% lower, reversing gains recorded over the previous two sessions.

GAIL (India) shares also declined, slipping 3.15% to an intraday low of ₹146.2 after two consecutive sessions of gains.

Strike At Key Global LNG Hub

According to official statements from Qatari authorities, Ras Laffan Industrial City—home to the world’s largest LNG export facility, was hit late on March 18 by an Iranian missile, while four other missiles were intercepted. The facility previously accounted for nearly 20% of global LNG supply before production was halted earlier this month.

A subsequent attack early on March 19 triggered a fire at the site. Authorities stated that the fire was being contained. QatarEnergy confirmed that multiple LNG facilities were impacted, leading to fires and significant infrastructure damage. No casualties were reported.

Regional Impact And Facility Shutdowns

Following the incident, Abu Dhabi shut its Habshan gas facilities after debris from an intercepted missile strike was reported in the area.

The escalation comes amid rising tensions in the region after a series of attacks on oil and gas infrastructure. Earlier, energy prices had surged after Israel targeted Iran’s South Pars gas field. Iranian officials had subsequently warned that energy assets in Qatar, Saudi Arabia, and the United Arab Emirates could be considered potential targets.

Market Reaction To Supply Risks

The fall in Petronet LNG and GAIL India shares is a result of investors’ concern about the possibility of disruptions in the supply chain of LNG. The Ras Laffan facility is a vital hub for Qatar’s gas exports, and if the infrastructure is compromised, there will be concerns about the prices and availability of gas.

The U.S., under the leadership of President Donald Trump, said it would retaliate if there were further attacks on Qatar’s LNG infrastructure.

The events have heightened concerns about energy markets, especially for companies that rely on importing LNG. The risks of supply disruptions remain high after the incident.