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Petronet LNG inks pacts with ONGC, Mahanagar Gas

28 Jan 2026 Evaluate

Petronet LNG has signed agreements with Oil and Natural Gas Corporation (ONGC) and Mahanagar Gas (MGL). The company has entered into a master regasification agreement (MRA) with ONGC under which the company shall provide LNG regasification services to ONGC at Dahej regasification terminal, thereby enabling them to supply regasified natural gas to meet the requirements of its downstream consumers. The MRA shall remain valid for a period of five year, with a provision for further extension based on mutual agreement between the company and ONGC. ONGC has evinced interest in entering into Gas marketing by importing LNG and selling RLNG for market and captive usage as growth of Indian gas market is supported by expansion of gas pipelines, City Gas Distribution (CGD) network and LNG regas terminals. 

In addition, the company has entered into master agreement with MGL under which the company shall undertake procurement of LNG cargoes and sell RLNG to MGL. The agreement shall be effective from January 27, 2026 and shall remain valid for a period of one year, with a provision for further extension based on mutual agreement between the company and MGL. The agreement offers operational and supply flexibility to MGL for augmentation and optimisation of its gas supply portfolio based on international spot prices. The proposed execution of the agreement is aligned with the company’s objective of optimal utilisation of its regasification infrastructure and the provision of integrated LNG sourcing and regasification services to gas consumers, including CGD entities with adequate storage and flexibility.

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

270.75 -0.45 (-0.17%)
10-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Petronet LNG 270.75
Bharat Coking Coal 32.75
Linde India 7190.85
Refex Industries 226.25
IRM Energy 202.85
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