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Petronet LNG executes long-term contract for purchase of 7.5 MMTPA LNG with QatarEnergy

06 Feb 2024 Evaluate

Petronet LNG (PLL) has successfully concluded and executed a LNG Sale & Purchase Agreement (LNG SPA) for purchase of around 7.5 MMTPA LNG with QatarEnergy on long-term basis. This is pursuant to extension of an existing LNG SPA for LNG supply of around 7.5 MMTPA LNG Sale & Purchase Agreement on FOB basis, signed on July 31, 1999 for supplies till 2028. 

Under the new agreement, LNG supplies will be made on delivered (DES) basis commencing from 2028 till 2048. Similar to earlier agreement of 1999, the LNG volumes under the new SPA shall also be off taken by GAIL (India) (60%), Indian Oil Corporation (30%) and Bharat Petroleum Corporation (10%) after regasification primarily from Dahej Terminal of PLL on substantially back to back basis. This LNG SPA between PLL and Qatar Energy will ensure energy security of the India and assure continued supplies of regasified LNG to major consuming sectors like fertilisers, CGD, refineries & petchem, power and other industries.

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).

Petronet LNG Share Price

274.75 5.20 (1.93%)
24-Jul-2026 16:59 View Price Chart
Peers
Company Name CMP
Petronet LNG 274.75
Bharat Coking Coal 34.95
Linde India 6735.40
Refex Industries 316.25
IRM Energy 254.85
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