Petronet LNG inks 5-year pact with ONGC; stock up ~4%

28 Jan 2026 , 02:06 PM

Petronet LNG Ltd announced that it has entered into a five-year Master Regasification Agreement (MRA) with Oil and Natural Gas Corporation Ltd(ONGC). Additionally, it has signed a one-year Regasified Liquefied Natural Gas (RLNG) supply agreement with Mahanagar Gas Ltd(MGL). It is to bolster its LNG regasification and supply operations in India.

At around 1.49 PM, Petronet LNG was trading 3.96% higher at ₹288.70, against the previous close of ₹277.70 on NSE. The counter jumped to an intraday high of ₹296 today.

As part of the agreement with ONGC, Petronet LNG will provide LNG regasification services at its Dahej terminal. Hence, helping ONGC to supply regasified natural gas to its downstream consumers.

The company further disclosed that the agreement is effective January 27, 2026. This includes provisions for extension on the basis of mutual consent.

The company also clarified that this a related party transaction is being carried out at arm’s length. This perfectly lines up with ONGC’s strategy to replace domestic natural gas production with LNG-based supplies to cater to the increasing demand across various sectors.

Apart from this, the company also inked a one-year Master Agreement with MGL for the procurement of LNG cargoes and sale of regasified LNG (RLNG). This pact is also effective from January 27, 2026.

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