Petronet LNG Signs Key Deals With ONGC And MGL

29 Jan 2026 CW Team

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.

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