Media reports say a powerful earthquake has struck a remote region of Tibet, killing at least 126 people and wounding more than 100 others, with tremors felt in Nepal, Bhutan and parts of northern India.

The United States Geological Survey said the earthquake on Tuesday measured 7.1 on the Richter scale, while the China Earthquake Networks Center (CENC) recorded a magnitude of 6.8.

The epicenter of the earthquake was the Shigatse high-altitude county of Dingri, located on the Chinese side of Mount Everest and home to about 62,000 people.  

Shigatse, which is home to 800,000 people, is the traditional seat of the Panchen Lama, a key figure of Tibetan Buddhism whose spiritual authority is second only to the Dalai Lama.

The exiled spiritual leader said he had been deeply saddened by news of the quake.

“I offer my prayers for those who have lost their lives and extend my wishes for a swift recovery to all who have been injured,” the Dalai Lama said in a statement, according to the BBC.

China’s state-run news agency Xinhua reported that more than 1,000 houses have been damaged to varying degrees by the quake that shook the region at a depth of about 10 kilometers at 9:05am local time.

The BBC reports that a large-scale search-and-rescue operation was launched, with survivors under additional pressure as temperatures were predicted to fall as low as -16C overnight.

Earthquakes are common in the region, which lies on a major geological fault line, but Tuesday's was one of China's deadliest in recent years.