Petronet LNG Limited (PLL) and Mahanagar Gas Limited execute a one year Master Agreement for sale of Regasified LNG - Petronetlng
Press Release
Petronet LNG Limited (PLL) and Mahanagar Gas Limited execute a one year Master Agreement for sale of Regasified LNG
28 Jan 2026
Petronet LNG Ltd
New Delhi
Press Release
New Delhi, January 28, 2026: Petronet LNG Limited (PLL) and Mahanagar Gas Limited (MGL) have entered into Master Agreement under which PLL shall undertake procurement of LNG cargoes and sell RLNG to MGL. The agreement shall be effective from 27.01.2026 and shall remain valid for a period of one year, with a provision for further extension based on mutual agreement between PLL and MGL.
The agreement offers operational and supply flexibility to MGL for augmentation and optimisation of its gas supply portfolio based on international spot prices. The proposed execution of the agreement is aligned with PLL’s objective of optimal utilisation of its regasification infrastructure and the provision of integrated LNG sourcing and regasification services to gas consumers, including City Gas Distribution (CGD) entities with adequate storage and flexibility.
The Master Agreement was signed on January 27, 2026 in the presence of Shri Akshay Kumar Singh, Managing Director & CEO, PLL and Shri Ashu Singhal, Managing Director, MGL at India Energy Week 2026 being held at ATI ONGC, Goa.
MGL is a related party of PLL. It is a promoter group company as GAIL holds 32.5% equity stake in MGL. This transaction is being done on arm’s length.
About Petronet LNG Limited (PLL)
Petronet LNG Limited is a joint venture promoted by four Oil & Gas Maharatna PSUs—GAIL, ONGC, IOCL, and BPCL—each holding a 12.5% equity stake. Incorporated in 1998, PLL commands 43% of India's LNG regasification capacity and manages around 2/3rd of the nation’s LNG imports. With a turnover of approximately INR 51,000 crore in FY 2024–25, PLL plays a vital role in India’s energy ecosystem, contributing about 33% of the country’s total natural gas supply.
PLL, with its two LNG regasification terminals at Dahej, Gujarat and Kochi, Kerala has a total regasification capacity of 22.5 MMTPA. It is further augmenting Dahej terminal capacity from 17.5 MMTPA to 22.5 MMTPA, which is likely to be commissioned shortly. Further, PLL is also in process of setting up a land based greenfield LNG regasification terminal of 5 MMTPA capacity on East Coast of India at Gopalpur, Odisha.
PLL is also setting up a 750 KTA PDH and 500 KTA PP unit including ethane and propane handling facilities at Dahej, Gujarat.
About Mahanagar Gas Limited (MGL)
Mahanagar Gas Limited (MGL), one of the India's leading Natural Gas Distribution Company, was incorporated on 8th May 1995. GAIL (India) Limited (Maharatna Company of Govt. of India) has evolved into one of India’s foremost city gas distribution companies, playing a pivotal role in driving cleaner energy adoption across MMR and Raigad. The Company supplies Compressed Natural Gas (CNG) to over a million vehicles and delivers Piped Natural Gas (PNG) to residential, commercial, and industrial consumers, making natural gas an integral part of everyday life in Mumbai, Navi Mumbai, Thane, and Raigad. MGL’s operations are fully integrated from planning and laying pipelines to network management and customer service. As the energy landscape transforms, MGL has taken bold steps to future-proof its business. The Company is transitioning from a traditional city gas distributor into a diversified energy company, guided by the belief that clean energy must be both accessible and scalable.
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