Petronet LNG Signs Gas Agreements with ONGC and Mahanagar Gas
New Delhi: Petronet LNG Limited (PLL) on Tuesday announced the execution of two key agreements aimed at strengthening India’s natural gas supply chain, including a five-year Master Regasification Agreement (MRA) with Oil and Natural Gas Corporation (ONGC) and a one-year Master Agreement with Mahanagar Gas Limited (MGL) for the sale of regasified LNG (RLNG).
Five-Year Regasification Agreement with ONGC
Under the agreement with ONGC, PLL will provide receipt, storage, and regasification services for LNG at its Dahej terminal in Gujarat. The MRA will remain valid for five years, with a provision for extension based on mutual consent.
The arrangement will enable ONGC to import LNG and market RLNG to meet the requirements of downstream consumers, supporting its strategy to complement domestic gas production with LNG-based supplies amid rising demand across sectors.
The agreement was signed on January 27, 2026, during India Energy Week 2026 in Goa, in the presence of Akshay Kumar Singh, Managing Director & CEO of PLL, and Arunangshu Sarkar, Director (Strategy & Corporate Affairs) of ONGC.
ONGC, a promoter and related party of PLL, holds board representation in the company. PLL clarified that the transaction has been executed on an arm’s-length basis.
One-Year LNG Supply Agreement with Mahanagar Gas
PLL also entered into a one-year Master Agreement with Mahanagar Gas Limited (MGL), effective January 27, 2026, under which PLL will procure LNG cargoes and supply RLNG to MGL. The agreement includes a provision for extension by mutual agreement.
The arrangement offers operational and supply flexibility to MGL, allowing it to optimise its 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 (CGD) companies.
The agreement was signed in the presence of Akshay Kumar Singh, MD & CEO of PLL, and Ashu Singhal, Managing Director of MGL, also at India Energy Week 2026 in Goa. MGL is a related party of PLL through promoter group links, and the transaction has been conducted on an arm’s-length basis.
About Petronet LNG
Petronet LNG Limited is a joint venture promoted by GAIL, ONGC, Indian Oil Corporation, and BPCL, each holding a 12.5% stake. The company accounts for about 43% of India’s LNG regasification capacity and handles nearly two-thirds of the country’s LNG imports. PLL currently operates LNG terminals at Dahej, Gujarat, and Kochi, Kerala, with a combined capacity of 22.5 MMTPA, and is expanding capacity and developing new projects on the east coast.