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Adani Total Gas hikes industrial prices amid conflict in West Asia
As a result of the attacks on Iran and Tehran's retaliatory strikes, transit through the Strait of Hormuz between Iran and Oman, which carries around one-fifth of oil consumed globally
It raised prices from Tuesday on gas consumed over and above the 40 per cent daily contract quantity to ₹119 ($1.30) per standard cubic meter | Photo: X@Adani_Gas
India's Adani Total Gas (ATGL) has sharply raised prices for supplies to industrial clients, citing lower availability of gas due to conflict in the Middle East, according to a customer notice seen by Reuters.
The company is a joint venture of Adani Group and French oil major TotalEnergies SE.
As a result of the attacks on Iran and Tehran's retaliatory strikes, transit through the Strait of Hormuz between Iran and Oman, which carries around one-fifth of oil consumed globally as well as large quantities of liquefied natural gas, has ground to a near-halt after some vessels in the area were hit.
"Due to recent geo-political developments impacting LNG supply routes, ATGL has received upstream gas curtailment, leading to operational constraints," the company said.
It raised prices from Tuesday on gas consumed over and above the 40 per cent daily contract quantity to ₹119 ($1.30) per standard cubic meter, the notice said.
Earlier prices were around ₹40 per standard cubic meter, a source said.
Adani Total Gas did not immediately respond to a Reuters request for comment.
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