Petronet LNG, Mahanagar Gas slump as global LNG prices surge

Shares of Petronet LNG and Mahanagar Gas fell sharply after global liquefied natural gas prices climbed to their highest level since 2023 amid supply disruptions in the Middle East.

Petronet LNG dropped 8.86%, while Mahanagar Gas declined 8.12% as investors reacted to the sharp spike in LNG prices, which could increase input costs for gas importers and city gas distributors.

The surge in global LNG prices follows escalating geopolitical tensions in the Middle East that have disrupted supply chains and heightened concerns over energy security. Higher LNG costs could potentially pressure margins for companies dependent on imported natural gas.

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