New Delhi: Petronet LNG Limited (PLL) has strengthened India’s natural gas supply ecosystem by signing a five-year Master Regasification Agreement (MRA) with Oil and Natural Gas Corporation Limited (ONGC) during India Energy Week 2026 in Goa.
Under the agreement, Petronet LNG will provide LNG receipt, storage, and regasification services to ONGC at its Dahej LNG terminal in Gujarat, enabling ONGC to supply regasified natural gas (RLNG) to its downstream and captive consumers.
The MRA will remain valid for five years, with a provision for extension based on mutual consent.
Agreement Supports ONGC’s Entry into LNG Marketing
The agreement aligns with ONGC’s strategic objective of supplementing domestic natural gas production with LNG-based supplies to meet India’s rising energy demand. ONGC has expressed interest in expanding into gas marketing by importing LNG and selling RLNG for industrial, commercial, and captive use.
The growth of India’s gas market is being driven by the expansion of gas pipelines, city gas distribution (CGD) networks, and LNG regasification terminals, making LNG a critical component of the country’s energy transition.
The agreement was signed on January 27, 2026, in the presence of Akshay Kumar Singh, Managing Director & CEO, Petronet LNG, and Arunangshu Sarkar, Director (Strategy & Corporate Affairs), ONGC, at India Energy Week 2026 held at ATI ONGC, Goa.
Petronet LNG clarified that while ONGC is a promoter and related party with board representation, the transaction has been executed on an arm’s-length basis.
Read also: ONGC Signs LNG Sourcing Agreement with TotalEnergies to Secure Spot and Short-Term Gas Supplies
Petronet LNG Also Signs One-Year RLNG Supply Agreement with Mahanagar Gas
In another key development, Petronet LNG executed a one-year Master Agreement with Mahanagar Gas Limited (MGL) for the supply of regasified LNG (RLNG), effective January 27, 2026.
Under the agreement, PLL will procure LNG cargoes and supply RLNG to MGL, with an option to extend the contract by mutual agreement.
The arrangement provides greater sourcing flexibility to MGL, allowing it to optimise procurement based on global spot LNG prices, while enabling PLL to improve utilisation of its regasification infrastructure and expand integrated LNG solutions for CGD companies.
The agreement was signed in the presence of Akshay Kumar Singh, MD & CEO, PLL, and Ashu Singhal, Managing Director, MGL, at India Energy Week 2026. MGL is also a related party of PLL through promoter group linkages, and the transaction has been conducted on an arm’s-length basis.
About Petronet LNG Limited
Petronet LNG Limited is India’s leading LNG infrastructure company, operating major LNG regasification terminals at Dahej (Gujarat) and Kochi (Kerala). The company plays a crucial role in securing LNG supplies and supporting India’s transition towards a cleaner energy mix.
About Oil and Natural Gas Corporation (ONGC)
ONGC is India’s largest upstream oil and gas exploration and production company, contributing significantly to the nation’s energy security. The company is expanding its footprint across the natural gas value chain, including LNG imports and gas marketing, to meet growing domestic demand.
Read also: Leadership Updates: Petronet LNG Appoints Avantika Singh Aulakh as Nominee Director on Board
