Oil and Natural Gas Corporation (ONGC) signed a liquefied natural gas regasification agreement with Petronet LNG Limited (Petronet LNG) at India Energy Week 2026, aiming to strengthen regasification capacity and ensure a more reliable supply of natural gas for domestic and industrial consumers. The accord was presented as part of efforts to bolster energy security and to enhance infrastructure linkages across regional gas markets.

The agreement covers collaboration on the provision and operation of regasification services at existing and planned import terminals, and envisages joint planning of logistics and technical integration. The arrangement is expected to improve the flexibility of LNG imports and to facilitate smoother dispatch of gas to downstream segments, including power generation and fertiliser production, without specifying contractual volumes.

By combining upstream production stewardship with downstream regasification capabilities, ONGC and Petronet LNG aim to support the transition towards cleaner fuel use while preserving supply resilience. The partnership was framed as complementary to national objectives to expand the share of natural gas in the energy mix and to reduce reliance on more carbon intensive alternatives.

Operational measures outlined under the accord include coordinated scheduling, information sharing and studies to optimise terminal throughput, with an emphasis on minimising turnaround times and logistical bottlenecks. The companies intend to undertake technical assessments and phased implementation planning to align regasification capacity enhancements with anticipated demand growth.

The pact is expected to influence market dynamics by offering greater predictability of gas flows and by signalling continued investment attention on import infrastructure. Stakeholders were said to welcome the collaboration as a pragmatic step to support energy affordability and industrial competitiveness while enabling a smoother pathway for the wider adoption of natural gas.