Petronet LNG Shares Rise 5% After Signing Regasification Deal with ONGC and RLNG Supply Pact with Mahanagar Gas

Petronet LNG Limited has announced the signing of two agreements aimed at strengthening its LNG regasification and gas supply operations in India.

The company entered into a long-term regasification contract with Oil and Natural Gas Corporation (ONGC) and a short-term RLNG supply agreement with Mahanagar Gas Limited (MGL). Both arrangements became effective from January 27, 2026.

Regasification Agreement with ONGC

Petronet LNG has executed a five-year Master Regasification Agreement with ONGC. Under this arrangement, Petronet LNG will provide LNG regasification services at its Dahej terminal, allowing ONGC to supply regasified natural gas to its downstream customers. The agreement includes provisions for extension by mutual consent.

The company stated that the contract has been entered into on an arm’s length basis.

RLNG Supply Agreement with Mahanagar Gas

Alongside the ONGC agreement, Petronet LNG has also signed a one-year Regasified Liquefied Natural Gas supply contract with Mahanagar Gas Limited. This arrangement is intended to support gas availability for city gas distribution and meet rising domestic consumption requirements.

This agreement has also been executed on an arm’s length basis.

Strategic Objective

The dual agreements are designed to optimise utilisation of LNG infrastructure and support growth in India’s natural gas supply chain. They reflect ongoing efforts to strengthen the availability and distribution of cleaner fuel alternatives in the domestic market.

Petronet LNG Share Price Movement

Petronet LNG shares were trading at ₹291.05 on 28 January 2026, up from the previous close of ₹277.70. The stock opened at ₹277.70 and moved between ₹276.10 and ₹292.00 during the session.

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Conclusion

Petronet LNG’s new agreements with ONGC and Mahanagar Gas indicate continued focus on enhancing LNG regasification capacity and gas supply networks. The contracts provide visibility on near-term infrastructure utilisation while supporting broader gas demand growth in India.

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