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The latest announcement is out from Petronet Lng Limited ( (IN:PETRONET) ).
Petronet LNG Limited has signed a five-year Master Regasification Agreement with Oil and Natural Gas Corporation under which it will provide receipt, storage and regasification services for ONGC’s imported LNG at its Dahej terminal, supporting ONGC’s strategic push into gas marketing and its plan to supplement domestic gas production with LNG to meet growing demand across sectors. In a parallel move, Petronet has also executed a one-year Master Agreement with Mahanagar Gas Limited for the sale of regasified LNG, further strengthening its role as a critical midstream player in India’s expanding natural gas ecosystem and deepening ties with key downstream utilities as pipeline networks, city gas distribution and regasification capacity continue to grow.
More about Petronet Lng Limited
Petronet LNG Limited is a leading Indian liquefied natural gas infrastructure company and a joint venture of state-run oil and gas majors GAIL, ONGC, Indian Oil Corporation and Bharat Petroleum, each holding 12.5%. The company operates major LNG regasification terminals at Dahej in Gujarat and Kochi in Kerala with a combined capacity of 22.5 MMTPA, handles about two-thirds of India’s LNG imports and around one-third of the country’s total natural gas supply, and is expanding capacity at Dahej while developing a new greenfield terminal at Gopalpur on the east coast alongside petrochemical projects at Dahej.
Average Trading Volume: 210,166
Technical Sentiment Signal: Buy
Current Market Cap: 417.4B INR
Learn more about PETRONET stock on TipRanks’ Stock Analysis page.