Petronet LNG

{{short description|Indian natural gas company}}

{{primary sources|date=April 2007}}

{{Use dmy dates|date=February 2019}}

{{Use Indian English|date=February 2019}}

{{Infobox company

| name = Petronet LNG Limited

| logo = PetronetLNGlogo.jpg

| caption =

| image = Kochi_LNG_Terminal_DSW.jpg

| image_caption = Kochi LNG Terminal of Petronet LNG

| type = Public

| traded_as = {{ubl|{{BSE|532522}}|{{NSE|PETRONET}}}}

| industry = Oil and gas

| fate =

| predecessor =

| successor =

| foundation = {{Sda|df=yes|1998}}

| founder =

| defunct =

| location_city = New Delhi

| locations =

| area_served =

| key_people = Pankaj Jain (non-executive chairman) {{Cite web|title=Petronet LNG Limited : Board of Directors|url=https://www.petronetlng.com/directors.php|access-date=2020-11-12|website=Petronet LNG}}

Akshay Kumar Singh (MD & CEO)

| products = Liquefied natural gas

| services =

| revenue = {{down}} {{INRConvert|52729|c}}(FY24){{cite web|url=https://www.moneycontrol.com/india/stockpricequote/oildrillingandexploration/petronetlng/PLN|title=Petronet LNG Ltd. Financial Statements |website=moneycontrol.com}}

| operating_income = {{up}} {{INRConvert|4947|c}}(FY24)

| net_income = {{up}} {{INRConvert|3527|c}}(FY24)

| assets = {{increase}} {{INRConvert|25523|c}} (FY24)

| equity = {{increase}} {{INRConvert|17410|c}} (FY24)

| num_employees = 508 (2020)

| owner = Government of India

| parent =

| divisions =

| subsid =

| footnotes =

| intl =

| location_country = India

| homepage = {{URL|http://www.petronetlng.in/}}

}}

File:Kochi LNG Terminal.jpg

Petronet LNG Limited is an Indian oil and gas company formed by the Government of India to import liquefied natural gas (LNG) and set up LNG terminals in the country. It is a joint venture company promoted by the Gas Authority of India Limited (GAIL), Oil and Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOC) and Bharat Petroleum Corporation Limited (BPCL).{{cite web |title=Petronet LNG Limited : About Us |url=https://www.petronetlng.in/Company.php |access-date=2020-06-15 |website=Petronet LNG Limited}} Petronet LNG Limited, one of the companies in the Indian energy sector, has set up the country's first LNG receiving and regasification terminal in Dahej, Gujarat, and another terminal in Kochi, Kerala. While the Dahej terminal has a nominal capacity of 17.5 million tonnes per year (equivalent to 70 million cubic metre per day of natural gas at standard conditions), the Kochi terminal has a capacity of 5 million tonnes per year (equivalent to 20 million cubic metre per day of natural gas). Plans to build a third LNG terminal in Gangavaram, Andhra Pradesh were dropped in October 2019.{{cite news|title=Petronet drops LNG terminal plan|url=https://www.thehindu.com/news/cities/Visakhapatnam/petronet-drops-lng-terminal-plan/article29694941.ece|access-date=2020-11-12|website=The Hindu|date=15 October 2019 |last1=Patnaik |first1=Santosh }}

Formed as a joint venture by the Government of India to import LNG and set up LNG terminals in the country, it involves India's leading oil and natural gas industry players. Its promoters are GAIL (India) Limited (GAIL), Oil & Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL). The authorized capital is Rs. 3,000 crore ($420 million approx).{{cite web|title=Petronet LNG Limited : About Us|url=https://www.petronetlng.com/Company.php|access-date=2020-06-15|website=Petronet LNG}}

The company selected Gaz de France as its strategic partner. The company has also signed an LNG sale and purchase agreements with QatarEnergy LNG for the supply of 8.5 MTPA LNG to India.{{Cite news |last=Verma |first=Nidhi |date=2023-02-07 |title=India's Petronet seeks more LNG under long-term Qatar deal |language=en |work=Reuters |url=https://www.reuters.com/business/energy/indias-petronet-lng-seeking-additional-lng-qatar-ceo-says-2023-02-07/ |access-date=2023-11-07}}

Petronet LNG Ltd has set up its first LNG terminal in Dahej in Gujarat with the capacity of 15 million metric tons per year. Capacity of Dahej Terminal will expand to 17.5 million tons per year till 2019. Another terminal with capacity 5 million tons per year is commissioned in Kochi (Kerala) and started its operations in August 2013. Petronet LNG is planning to set up its third LNG terminal with capacity 5 million tons per year probably in Andhra Pradesh.

Kochi LNG Terminal is situated in the Special Economic Zone (SEZ) of Puthuvypeen near the entrance to Cochin Port, Kerala. The jetty facility at Kochi terminal is designed to receive LNG tankers of capacity from 65,000 m³ up to 216,000 m³, with possibility of receiving suitable smaller ships.

There are various services offered by Petronet LNG Limited, like regasification, storage and reloading, bunkering, gassing-up and cooling-down facilities and LNG truck loading facilities.

In September 2019, PetroNet signed an MoU with United States–based Tellurian Inc to purchase a stake in the latter's Driftwood project in Louisiana and to import 5 million tonnes of LNG annually. The deal was initially expected to be finalized by 31 March 2020,{{cite web |title=Petronet LNG signs $2.5 billion deal to take stake in US LNG plant |url=https://www.moneycontrol.com/news/business/petronet-lng-signs-2-5-billion-deal-to-take-stake-in-us-lng-plant-4462121.html |website=Moneycontrol |access-date=22 September 2019}} but the non-binding agreement was instead terminated in November 2020 due to low LNG prices adversely affecting the investment case.{{cite web |title=Petronet LNG backs out of plan to invest in Tellurian terminal |url=https://www.thehindubusinessline.com/money-and-banking/petronet-lng-backs-out-of-planto-invest-in-tellurian-terminal/article33085652.ece?source=news_body_link |website=The Hindu BusinessLine | date=12 November 2020 |access-date=12 November 2020}}

On 6 February 2024, Petronet LNG signed a supply deal with QatarEnergy for 7.5 million metric tons a year of LNG from 2028 to 2048. The agreement was to renew an existing deal with QatarEnergy that expires in 2028 for the same amount of yearly LNG deliveries.{{Cite web |date=2024-02-06 |title=QatarEnergy and India's Petronet sign biggest LNG deal to date |url=https://www.reuters.com/business/energy/indias-petronet-sign-lng-deal-with-qatar-supplies-beyond-2028-sources-2024-02-06/ |access-date=2024-03-01 |website=Reuters}}{{Cite web |last= |date=2024-02-07 |title=QatarEnergy signs 20-year gas deal with India's Petronet - ETEnergyWorld MEA |url=https://energymea.economictimes.indiatimes.com/news/oil-gas/qatarenergy-signs-20-year-gas-deal-with-indias-petronet/107476918 |access-date=2024-03-01 |website=ETEnergyworld.com |language=en}}

On 20 August 2024, MoU was signed between Sri Lanka's LTL Holdings Limited and India's Petronet LNG Limited for the infrastructure development of the Sobadhanavi Combined Cycle Power Plant at Kerawalapitiya, north Colombo.{{Cite news |title=Petronet LNG signs agreement with Sri Lankan govt for power generation |url=https://www.business-standard.com/companies/news/india-sri-lanka-sign-agreement-for-power-generation-124082001127_1.html}}{{Cite web |date=2024-08-20 |title=Petronet LNG signs MoU with Sri Lanka’s LTL Holdings for LNG supply to power plants in Colombo - CNBC TV18 |url=https://www.cnbctv18.com/market/stocks/petronet-lng-share-price-signs-mou-with-sri-lanka-ltl-holdings-for-lng-supply-to-power-plants-in-colombo-19462581.htm |access-date=2024-08-21 |website=CNBCTV18 |language=en}}