Petronet LNG Limited (PLL) and Oil and Natural Gas Corporation Limited (ONGC) have entered into a five-year Master Regasification Agreement for the receipt, storage, and regasification of liquefied natural gas at PLL’s Dahej terminal in Gujarat. Under the agreement, PLL will provide LNG regasification services to ONGC, enabling the supply of regasified natural gas to meet the requirements of downstream consumers. The agreement is valid for an initial period of five years, with provisions for extension based on mutual consent.
The arrangement supports ONGC’s plans to expand its participation in gas marketing through LNG imports and the sale of regasified LNG for both market and captive use. This move aligns with the broader growth of India’s gas ecosystem, supported by the expansion of pipeline infrastructure, city gas distribution networks, and LNG regasification capacity.
The agreement is also in line with ONGC’s strategic objective of supplementing domestic natural gas production with LNG-based supplies to meet rising demand across multiple consumption sectors. The Master Regasification Agreement was signed on January 27, 2026, during India Energy Week 2026 held at ATI ONGC, Goa. The signing took place in the presence of Akshay Kumar Singh, Managing Director & CEO of PLL, and Arunangshu Sarkar, Director (Strategy & Corporate Affairs) of ONGC.
ONGC is one of the promoter entities of PLL and is classified as a related party. The Chairman and Managing Director of ONGC serves as a nominee director on the PLL Board, in accordance with the company’s Articles of Association. The transaction has been conducted on an arm’s-length basis.
Petronet LNG Limited is a joint venture promoted by four Maharatna public sector oil and gas companies—GAIL, ONGC, IOCL, and BPCL—each holding a 12.5 percent equity stake. Incorporated in 1998, PLL accounts for around 43 percent of India’s LNG regasification capacity and handles nearly two-thirds of the country’s LNG imports. With LNG terminals at Dahej and Kochi, PLL operates a combined regasification capacity of 22.5 MMTPA and is in the process of further capacity expansion and new infrastructure development across the country.
Oil and Natural Gas Corporation Limited is a Maharatna PSU and India’s leading integrated energy company, operating across the entire hydrocarbon value chain. ONGC is the country’s largest producer of crude oil and natural gas, contributing approximately 71 percent of India’s domestic hydrocarbon output.
