Petronet LNG re-structures agreement with RasGas of Qatar

24 Dec 2018

Petronet LNG has re-structured binding sale and purchase agreement with RasGas of Qatar (LNG Supplier) for supply of an additional 1 MMTPA of LNG for onward sale to IOCL, BPCL, GAIL and GSPC.

At the request of the above four entities, direct arrangement between the LNG supplier and the Indian entities with effect from January 1, 2019 wherein Petronet will now continue to provide the storage, receiving and regasification services for the above mentioned contract but will not be the buyer of LNG.

Petronet LNG is one of the leading players in oil and natural gas industry space. The company's promoters are GAIL (India), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL).

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