ONGC to Enter Imported LNG Market by Q4 FY26

20 Jun 2025 CW Team

State‑run Oil and Natural Gas Corporation Ltd (ONGC) is preparing to enter the imported liquefied natural gas (LNG) business by the fourth quarter of financial year 2025–26. The company aims to source R‑LNG via spot deals indexed to Henry Hub and West Asian markets, targeting the growing demand in India’s city gas distribution sector.

While ONGC is still in the early planning stages, the company’s strategic shift follows policy measures intended to increase natural gas's share of India’s energy mix from around 7 per cent to 15 per cent by 2030 . As demand for cleaner fuels grows, ONGC has highlighted R‑LNG as one of its four pillars of diversification—alongside E&P, renewables, and petrochemicals.

Initially, ONGC plans to operate imported LNG via long-term procurement without building its own regasification infrastructure. The company may hire existing LNG terminals and pipelines, with the potential to invest in its own logistics infrastructure later .

Entry into the R‑LNG segment will allow ONGC to complement its domestic gas supply capabilities and cater to rising demand from city gas distributors. Market conditions, including global LNG prices, will govern the timing and scale of the foray.

By Q4 FY26, ONGC hopes to establish a foothold in the imported RES market, leveraging spot procurement strategies to enhance energy access, meet policy goals, and advance its broader diversification ambitions.

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