Petronet LNG Signs Key Deals With ONGC And MGL
OIL & GAS

Petronet LNG Signs Key Deals With ONGC And MGL

Petronet LNG Limited (PLL) has executed two major agreements to strengthen India’s natural gas supply chain, including a five-year Master Regasification Agreement with Oil and Natural Gas Corporation (ONGC) and a one-year Master Agreement with Mahanagar Gas Limited (MGL) for the sale of regasified liquefied natural gas (RLNG).

Under the five-year agreement with ONGC, PLL will provide receipt, storage and regasification services for LNG at its Dahej terminal in Gujarat. The agreement, which includes a provision for extension by mutual consent, will enable ONGC to import LNG and market RLNG to downstream consumers, complementing domestic gas production amid rising demand across sectors.

The agreement was signed on 27 January 2026 during India Energy Week 2026 in Goa in the presence of senior executives from PLL and ONGC. ONGC, a promoter and related party of PLL, has board representation in the company, while PLL clarified that the transaction has been executed on an arm’s-length basis.

PLL also signed a one-year Master Agreement with Mahanagar Gas Limited, effective 27 January 2026, under which it will procure LNG cargoes and supply RLNG to MGL. The agreement includes a provision for extension by mutual consent.

The arrangement provides operational and supply flexibility to MGL by allowing it to optimise gas sourcing based on international spot prices. For PLL, the agreement supports optimal utilisation of its regasification infrastructure while expanding integrated LNG sourcing services for city gas distribution companies.

The MGL agreement was also signed during India Energy Week 2026 in Goa in the presence of senior executives from both companies. MGL is a related party of PLL through promoter group links, and the transaction has been conducted on an arm’s-length basis.

Petronet LNG Limited (PLL) has executed two major agreements to strengthen India’s natural gas supply chain, including a five-year Master Regasification Agreement with Oil and Natural Gas Corporation (ONGC) and a one-year Master Agreement with Mahanagar Gas Limited (MGL) for the sale of regasified liquefied natural gas (RLNG). Under the five-year agreement with ONGC, PLL will provide receipt, storage and regasification services for LNG at its Dahej terminal in Gujarat. The agreement, which includes a provision for extension by mutual consent, will enable ONGC to import LNG and market RLNG to downstream consumers, complementing domestic gas production amid rising demand across sectors. The agreement was signed on 27 January 2026 during India Energy Week 2026 in Goa in the presence of senior executives from PLL and ONGC. ONGC, a promoter and related party of PLL, has board representation in the company, while PLL clarified that the transaction has been executed on an arm’s-length basis. PLL also signed a one-year Master Agreement with Mahanagar Gas Limited, effective 27 January 2026, under which it will procure LNG cargoes and supply RLNG to MGL. The agreement includes a provision for extension by mutual consent. The arrangement provides operational and supply flexibility to MGL by allowing it to optimise gas sourcing based on international spot prices. For PLL, the agreement supports optimal utilisation of its regasification infrastructure while expanding integrated LNG sourcing services for city gas distribution companies. The MGL agreement was also signed during India Energy Week 2026 in Goa in the presence of senior executives from both companies. MGL is a related party of PLL through promoter group links, and the transaction has been conducted on an arm’s-length basis.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement