New Delhi: Petronet LNG Limited (PLL) has signed two key agreements with Oil and Natural Gas Corporation (ONGC) and Mahanagar Gas Limited (MGL) to strengthen India’s natural gas supply chain and enhance the availability of regasified liquefied natural gas (RLNG), the company announced on Tuesday.
The agreements were executed on January 27, 2026, on the sidelines of India Energy Week 2026 held in Goa.
Five-Year Regasification Agreement with ONGC
Under a five-year Master Regasification Agreement (MRA) with ONGC, Petronet LNG will provide LNG receipt, storage, and regasification services at its Dahej terminal in Gujarat. The agreement includes a provision for extension by mutual consent.
The arrangement will enable ONGC to import LNG and market RLNG to downstream consumers, helping the state-run energy major supplement domestic gas production with LNG-based supplies amid rising demand from industrial, power, and city gas distribution sectors.
The agreement was signed in the presence of Akshay Kumar Singh, Managing Director and CEO of Petronet LNG, and Arunangshu Sarkar, Director (Strategy and Corporate Affairs) at ONGC.
Petronet LNG said the transaction was carried out on an arm’s-length basis, noting that ONGC is a promoter and related party of the company with board representation.
One-Year LNG Supply Agreement with Mahanagar Gas
Petronet LNG also entered into a one-year Master Agreement with Mahanagar Gas Limited for the supply of regasified LNG, effective January 27, 2026. The agreement allows for extension by mutual agreement.
Under the deal, PLL will procure LNG cargoes and supply RLNG to MGL, providing flexibility to the city gas distributor to optimize sourcing based on global spot LNG prices. The agreement is expected to support better utilization of Petronet LNG’s regasification infrastructure while expanding its integrated LNG sourcing services for CGD companies.
The agreement was signed in the presence of Akshay Kumar Singh, MD & CEO of Petronet LNG, and Ashu Singhal, Managing Director of MGL. The company clarified that the transaction was also conducted on an arm’s-length basis, as MGL is a related party through promoter group linkages.
About Petronet LNG
Petronet LNG Limited is a joint venture promoted by GAIL, ONGC, Indian Oil Corporation, and Bharat Petroleum Corporation Limited (BPCL), each holding a 12.5% equity stake. The company accounts for approximately 43 percent of India’s LNG regasification capacity and handles nearly two-thirds of the country’s LNG imports.
Petronet LNG currently operates LNG terminals at Dahej in Gujarat and Kochi in Kerala, with a combined capacity of 22.5 million metric tons per annum (MMTPA). The company is expanding its existing capacity and developing new LNG projects along India’s east coast.