PETRONET

NEW DELHI, July 28 (Reuters) - India's top gas importer, Petronet LNG PLNG.NS, is looking to raise a 120 billion rupee (about $1.4 billion) local currency loan to fund the expansion of a plant, its head of finance, Saurav Mitra, said in an analyst call on Monday.

The company is building a petrochemical plant in India's western state of Gujarat at the cost of 206.85 billion rupees.

Petronet aims to spend 300 billion rupees in the next few years, and most of that on building a petrochemical project, Mitra said.

Its capital expenditure for 2026-27 would be higher than the 50 billion rupees estimated for the current fiscal year to March 2026, he said.

Last week, the company's board approved setting up a 5 million tons per year LNG import terminal in the eastern state of Odisha at the cost of 63.5 billion rupees.

($1 = 86.5050 Indian rupees)

(Reporting by Nidhi Verma; Editing by Mrigank Dhaniwala)

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July 25 (Reuters) - Petronet LNG Ltd PLNG.NS:

• PETRONET LNG JUNE-QUARTER CONSOL PAT 8.24 BILLION RUPEES

• PETRONET LNG JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 118.8 BILLION RUPEES

Source text: ID:nBSEQFPJh

Further company coverage: PLNG.NS

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** Shares of Petronet LNG Ltd PLNG.NS rises 2.6% to 307.05 rupees
** Motilal Oswal upgrades PLNG to "buy" with a TP of 410 rupees/share, upside of 36.8% from last close
** Motilal says stock price already assumes a 20% tariff cut at PLNG’s Dahej, Kochi terminals by FY28 and no growth afterward
** Brokerage still sees PLNG's Dahej terminal as better positioned for growth, as rival terminals are underused and more expensive to run
** Motilal building in a PAT CAGR of 9% during FY25-27 for co, driven by volume growth and scheduled 5% tariff hike for both Dahej, Kochi terminals
** Mean rating of stock is 'hold'; their median PT is 331 rupees - data compiled by LSEG

(Reporting by Meenakshi Maidas in Bengaluru)

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** Shares of India's Petronet LNG PLNG.NS down 1.37% at 316.4 rupees following the release of co's Q4 results

** Petronet's profit after tax jumps 45%, but revenue falls nearly 11% due to a one-time provision reversal and lower costs

** Citi Research maintains "sell", says volumes were "materially below expectations"

** Adds that rising competitive pressures, high LNG prices and a muted seasonal ramp up in gas-based power generation could limit performance upside

** Macquarie maintains "underperform", flags declining returns trajectory, adding PLNG's foray into petrochemicals not likely to improve them

** PLNG rated "hold" by 32 analysts, with median PT at 324 rupees, as per data complied by LSEG

(Reporting by Ananta Agarwal in Bengaluru)

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May 19 (Reuters) - Petronet LNG Exec PLNG.NS:

• TO COMPLETE CAPACITY EXPANSION OF DAHEJ LNG TERMINAL TO 22.5 MTPA FROM 17.5 MTPA IN 3-4 MONTHS

• LONG TERM LNG PRICES AT ABOUT $10/MBTU, ABOUT $1.5 CHEAPER THAN SPOT LNG

• INDIAN MARKETS WANT LNG PRICES AT BELOW $10/MMBTU

• EXPECT LNG DEMAND FROM POWER PLANTS TO PICK UP IN JUNE

Further company coverage: PLNG.NS

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April 22 (Reuters) - Petronet LNG Ltd PLNG.NS:

• SAURAV MITRA JOINS PETRONET LNG AS DIRECTOR (FINANCE) & CFO

Source text: ID:nBSEbkVvXG

Further company coverage: PLNG.NS

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April 18 (Reuters) - Petronet LNG Ltd PLNG.NS:

• VINOD KUMAR MISHRA CEASES TO BE CFO

Source text: ID:nBSEc9Zh73

Further company coverage: PLNG.NS

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April 16 (Reuters) - Petronet LNG Ltd PLNG.NS:

• APPOINTS SAURAV MITRA AS DIRECTOR (FINANCE) & CFO

Source text: ID:nBSE8z7btX

Further company coverage: PLNG.NS

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** Shares of Petronet LNG PLNG.NS rise 3.4%, rebounding from Monday's 2.8% decline

** Co signs initial pact With Odisha state government to set up a 4 MTPA liquefied natural gas terminal

** PLNG set to snap three-session losing streak

** PLNG down about 18% YTD, compared to a 9.3% drop in Nifty energy index .NIFTYENR

(Reporting by Vijay Malkar)

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By Mohi Narayan

NEW DELHI, Feb 14 (Reuters) - India will be a bright spot for petrochemical demand in 2025 even as global consumption lags supply, amid rising demand for electric vehicle parts, solar panels and household appliances, industry executives said on the sidelines of India Energy Week conference.

"We are seeing good local demand in the sectors like propylene where our company operates," Bharat Petroleum's BPCL.NS director of refineries Sanjay Khanna said.

Indian Oil IOC.NS Chairman A S Sahney said demand is expected to remain resilient this year.

Petrochemicals are used in key building blocks for a variety of goods such as plastics, paints, and pharmaceuticals.

Ganesh Gopalakrishnan, TotalEnergies's TTEF.PA global head of petrochemical trading, said there is good demand from the automobile sector while white goods consumption is recovering.

However, global petrochemical margins are expected to stay depressed for a few more years amid weak demand from top petrochemical consumer China and excess supply from new Chinese and Middle Eastern plants.

"The industry is waiting for China to announce its big incentive plan in March," said TotalEnergies's Gopalakrishnan, adding that this could spur China's demand and improve global petrochemical margins.

Refiners in India have been insulated from losses because they produce their own petrochemical feedstock naphtha, margins have been negative in the last 3-4 years for standalone plants which rely on imported feed, said Pankaj Srivastava, an analyst at consultancy Rystad Energy.

Meanwhile, investments continue to pour into India. The country is expected to receive $87 billion worth of investments in the next decade to meet the nation's rising demand for petrochemicals, the country's oil minister Hardeep Singh Puri said last year.

He said India consumes 25 to 30 million metric tons of petrochemical products annually, and the chemical and petrochemicals sector, currently valued at $220 billion, is expected to grow to $300 billion by 2025.

Companies such as Nayara Energy and Haldia Petrochemicals have already announced plans to boost production.

Petronet LNG is setting up a petrochemical complex of 750,000 metric tons-per-year (tpy) propane dehydrogenation unit and 500,000 tpy polypropylene unit in the western state of Gujarat.

"The downturn in petchems has always been cyclical and we hope margins will recover in next three years," Petronet LNG Chief Executive Akshay Kumar Singh said.

(Reporting by Mohi Narayan; Editing by Florence Tan and Michael Perry)

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By Nidhi Verma

NEW DELHI, Feb 13 (Reuters) - India's top gas importer Petronet LNG PLNG.NS plans to trade liquefied natural gas (LNG) through its Singapore-based unit, CEO A K Singh said on Thursday.

The company will not trade LNG cargoes procured under long-term deals, he said in a press conference at the India Energy Week.

"Right now, we are managing (LNG purchases) from here. At an opportune time, we will start the (trading) operations," Singh said.

He said India's gas demand is set to rise three-and-a-half times to meet the country's goal of having a 15% share of LNG in the energy mix from 6.2% currently.

Separately, Petronet's head of finance, Vinod Kumar Mishra, said the firm has mandated SBI Caps to arrange 140 billion rupees ($1.61 billion) of debt for its new petrochemical project that costs 200 billion rupees.

($1 = 86.8600 Indian rupees)

(Reporting by Nidhi Verma in Bengaluru; Editing by Sonia Cheema)

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Feb 6 (Reuters) - Petronet LNG Ltd PLNG.NS:

• EXECUTES AGREEMENTS WITH DEEPAK PHENOLICS FOR PROPYLENE AND HYDROGEN

• AGREEMENT INCLUDES SALE OF 250 KTA PROPYLENE AND 11 KTA HYDROGEN

• SUPPLY PERIOD UNDER AGREEMENTS IS 15 YEARS

Source text: ID:nBSE7CSXdF

Further company coverage: PLNG.NS

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Jan 30 (Reuters) - Petronet LNG Ltd PLNG.NS:

• DEC-QUARTER CONSOL PAT 8.67 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 122.27 BILLION RUPEES

Source text: ID:nNSEbkPPr8

Further company coverage: PLNG.NS

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Jan 27 (Reuters) - Petronet LNG Ltd PLNG.NS:

• PETRONET LNG - AGREEMENT FOR SALE OF 250 KTA OF PROPYLENE, 11 KTA OF HYDROGEN

• PETRONET LNG - AGREEMENT TO BE EXECUTED BETWEEN PETRONET LNG, DEEPAK PHENOLICS

Source text: ID:nnAPN2L2VY2

Further company coverage: PLNG.NS

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Jan 2 (Reuters) - Petronet LNG Ltd PLNG.NS:

• CLARIFIES ON PNGRB NEWS

• REGULATING LNG TERMINALS WOULD REQUIRE AMENDMENT IN PNGRB ACT

• DAHEJ TERMINAL OFFERS COMPETITIVE REGAS CHARGES

• THERE IS NO MONOPOLY IN REGAS TERMINAL BUSINESS

• CHARGES BEEN FIXED ON AGREEMENTS BETWEEN CO AND VARIOUS USERS

Source text: ID:nBSE90BJdV

Further company coverage: PLNG.NS

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Dec 30 (Reuters) - Konstelec Engineers Ltd KONS.NS:

• KONSTELEC ENGINEERS LTD - AWARDED ORDER WORTH 178.5 MILLION RUPEES

• KONSTELEC ENGINEERS LTD -GETS ORDER FROM PETRONET LNG

Source text: ID:nNSE32QMVW

Further company coverage: KONS.NS

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Adds details of joint statement from paragraph 2

NEW DELHI, Dec 16 (Reuters) - India plans to supply liquefied natural gas to Sri Lanka's power plants and will work on connecting the power grids of the two countries as well as lay a petroleum pipeline between the neighbours, Indian Prime Minister Narendra Modi said on Monday.

Modi was speaking at a joint press briefing with Sri Lankan President Anura Kumara Dissanayake in New Delhi.

Dissanayake is on his first official visit to Sri Lanka's powerful neighbour after winning the presidency in September and securing a landslide parliamentary election victory last month.

Indian state-run firm Petronet LNG PLNG.NS has signed a deal to supply liquefied natural gas to Sri Lankan engineering firm LTL Holdings' power plants in Colombo for five years through its terminal in the southern Indian city of Kochi.

Both sides also discussed a plan to connect power grids and lay a multi-product petroleum pipeline between the two countries, a joint statement from the Indian External Affairs Ministry said.

The two countries also agreed to jointly develop offshore wind power potential in the Palk Straits, an area where India's Adani Green Energy Ltd. ADNA.NS already has plans to invest $442 million in two wind power stations.

Sri Lanka is reviewing the wind power project along with a $553 million terminal project at the Colombo port also linked to Adani Ports APSE.NS. But it was unclear if the projects were discussed during the meeting between Modi and Dissanayake.

Last month, U.S. authorities accused Adani Group Chairman Gautam Adani and seven others of being part of a $265 million scheme to bribe Indian officials, and of misleading U.S. investors while raising funds there.

The ports-to-power conglomerate has termed the allegations "baseless" and said it would seek "all possible legal recourse".

India extended more than $4 billion in aid to Sri Lanka when the island nation's economy plunged into a severe financial crisis in 2022 and entered into a preliminary debt restructuring agreement, along with other bilateral creditors Japan and China, in July.

The two countries will now finalise discussions on the bilateral memorandum of understanding needed to complete the debt restructuring process, the joint statement added.

(Reporting by Shanima A in Mumbai and Shivam Patel in New Delhi; Editing by YP Rajesh)

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NEW DELHI, Oct 24 (Reuters) - India's top gas importer Petronet LNG PLNG.NS aims to start operating a 5 million metric ton per year (tpy) liquefied natural gas (LNG) terminal at Gopalpur in eastern Odisha state in 2027, Chief Executive Akshay Kumar Singh said on Thursday.

The company had previously planned for a 4 million tpy floating storage and regassification unit at Gopalpur.

(Reporting by Nidhi Verma
Editing by David Goodman
)

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** Petronet LNG PLNG.NS rises 5.4% to 362.75 rupees - top pct gainer on mid-cap 100 index .NIFMDCP100, which is down 1.4% amid broad sell-off in domestic markets

** Emkay Global upgrades to "buy" from "add", raises TP to Street-high of 425 rupees - a 23.4% upside to last close - LSEG

** Says India's top gas importer's valuations remain attractive at current levels and earnings outlook is steady, with EPS rising 7%-9% by FY27

** Adds co does not plan to bring any major tariff tweaks and is likely to sustain volume growth - both positives for stock outlook

** Avg rating of 31 analysts is "hold"; median TP is 315 rupees

** Stock up 63% YTD vs NIFMDCP100's 29% rise

(Reporting by Bharath Rajeswaran in Bengaluru)

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Aug 20 (Reuters) - Petronet LNG Ltd PLNG.NS:

• PETRONET LNG LTD - SIGNING OF AN MOU WITH LTL HOLDINGS LIMITED (LTL) OF SRI LANKA

• PETRONET LNG LTD - MOU FOR SUPPLY OF LNG TO LTL'S DUAL FUELLED POWER PLANT IN COLOMBO

• PETRONET LNG LTD - INITIAL TERM OF LNG SUPPLY WOULD BE 5 YEARS

Source text for Eikon: ID:nBSE7rbgfw

Further company coverage: PLNG.NS

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SINGAPORE, July 25 (Reuters) - Indian gas importer Petronet LNG PLNG.NS has issued a tender for a liquefied natural gas (LNG) cargo for delivery in September, two industry sources said on Thursday.

The company is seeking the cargoes for delivery Sept. 10-24 to the Dahej terminal. The tender closes on July 26.

(Reporting by Emily Chow
Editing by David Goodman
)

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July 24 (Reuters) - Petronet LNG Ltd PLNG.NS:

• INDIA'S PETRONET LNG EXEC: SEEKING EXTRA LAND FROM STATE GOVERNMENT FOR LAND BASED LNG TERMINAL AT GOPALPUR IN EAST COAST

• PETRONET LNG EXEC: 'SERIOUSLY ENGAGED' WITH SRI LANKA AUTHORITIES FOR EXPORT OF LNG FROM KOCHI TERMINAL

• PETRONET LNG EXEC: AIMS TO EXPAND CAPACITY OF 17.5 MTPA DAHEJ LNG TERMINAL TO 22.5 MTPA IN A YEAR'S TIME

• PETRONET LNG EXEC: LOOKING TO TIE UP MID-TERM, LONG TERM LNG IMPORT DEALS

• PETRONET LNG EXEC: SEES SEPT-QUARTER SPOT LNG PRICES SIMILAR TO CURRENT PRICES OF $11.5-$12 PER MMBTU

Further company coverage: PLNG.NS

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May 22 (Reuters) - Petronet LNG Ltd PLNG.NS:

• PETRONET LNG EXEC: IN ACTIVE DISCUSSION WITH SRI LANKAN AUTHORITIES FOR FINALISING QUANTITY AND TIMELINESS FOR SUPPLY OF LNG

• PETRONET LNG EXEC: LNG DEMAND IS COMING FROM POWER SECTOR

• PETRONET LNG EXEC: DAHEJ PLANT IS OPERATING AT FULL CAPACITY

• PETRONET LNG EXEC: EXPECT HIGHER GAS DEMAND FROM POWER SECTOR TO CONTINUE FOR COUPLE OF MONTHS

• PETRONET LNG EXEC: AT PRESENT LONG TERM LNG PRICES AND SPOT PRICES ARE SIMILAR AT NEARLY $11/MBTU

• PETRONET LNG EXEC: SOME SPIKE IN SPOT PRICES SEEN IN RECENT TIMES

• PETRONET LNG EXEC: LNG PRICES AFFECTED BY GEOPOLITICAL FACTORS AND EUROPE CONSUMPTION

• PETRONET LNG EXEC: EXPECT LNG VOLUME GROWTH TO COME FROM ASIAN NATIONS LIKE CHINA AND INDIA

• PETRONET LNG EXEC: EXPECT LNG PRICES TO RANGE BETWEEN $12-15/MMBTU TILL WINTER

• PETRONET LNG EXEC: DAHEJ LNG TERMINAL TO BE EXPANDED TO 22.5 MTPA CAPACITY BY MARCH 2025

• PETRONET LNG EXEC: AIMS TO SET UP LNG TERMINAL IN EASTERN INDIA IN 3 YRS

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Feb 8 (Reuters) - PETRONET LNG LTD PLNG.NS EXECUTIVE AT INDIA ENERGY WEEK:

• SAYS OPERATING DAHEJ LNG TERMINAL AT FULL CAPACITY

• SAYS SOFTENING LNG PRICES IN SUMMER SEASON WILL BOOST DEMAND FROM POWER PLANTS

• EXEC SAYS ADDITIONAL 1.25 ML T/YEAR LNG DEALS UNDER EXISTING GORGON DEAL WILL START IN 2025-26

Further company coverage: PLNG.NS

(Reproting by Seher Dareen)

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Adds comments from Petronet LNG CEO, details and background throughout

By Sudarshan Varadhan

QUITOL, India, Feb 7 (Reuters) - Indian liquefied natural gas (LNG) imports are forecast to jump to 150 million metric tons per year (tpy) by 2030 and the country will need the equivalent re-gasification capacity to achieve its targets, Petronet LNG's CEO said on Wednesday.

The expected imports compare to current levels of 22 million tpy, Akshay Kumar Singh said at the India Energy Week in Goa.

India aims to raise the share of natural gas in its energy mix to 15% by 2030, up from 6.2% currently, as part of efforts to cut planet-warming emissions.

Singh added that India's consumption of natural gas stands at 150 million standard cubic metres per day (mmscmd), of which 45% is imported.

LSEG data shows the South Asian nation imported 20.8 million metric tpy of LNG last year.

(Reporting by Sudarshan Varadhan; Writing by Emily Chow; Editing by Jason Neely, Alexander Smith and Emelia Sithole-Matarise)

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** Shares of Petronet LNG PLNG.NS rise as much as 8.5% to hit all-time high of 296.45 rupees

** LNG importer said it is executing a long-term contract for purchase of 7.5 MMTPA liquefied natural gas (LNG) with QatarEnergy

** Under new contract, LNG supplies will be made on delivered (DES) basis commencing from 2028 till 2048

** Stock was up 6.5% before PLNG's announcement

** Stock last up 5.9% with trading volume 3.5x the 30-day moving average

** Analysts' avg rating on PLNG is "hold", in contrast with "buy" rating on rivals Oil India OILI.NS and ONGC ONGC.NS - LSEG data

** PLNG's 3.3% climb in 2023 lags behind OILI, ONGC's 79% and 40% rise and oil and gas index's .NIFOILGAS 13% climb

(Reporting by Kashish Tandon in Bengaluru)

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NEW DELHI, Feb 1 (Reuters) - India has proposed to supply liquefied natural gas (LNG) to Sri Lanka to help the island nation produce power from its Yughadhanavi and Sobhadabavi power plants, Sri Lanka's Energy Minister said on Thursday.

"In the efforts to expedite the process to generate power from LNG the Government of India has proposed an interim solution from Petronet LNG PLNG.NS," Energy Minister Kanchana Wijesekera said in a post on social media platform X.

He said the interim solution was discussed with Sri Lankan government officials, the Indian High Commision, Ceylon Electricity Board (CEB) and Petronet LNG.

Petronet LNG is India's top gas importer.

(Reporting by Bansari Mayur Kamdar and Nidhi Verma in New Delhi; Editing by YP Rajesh)

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Jan 30 (Reuters) - Petronet LNG Ltd PLNG.NS:

• INDIA'S PETRONET LNG EXEC: WORKING ON LONG TERM LNG DEALS WITH QATAR

• PETRONET LNG EXEC: HOPES TO COMPLETE GOPALPUR LNG TERMINAL IN EAST COAST IN 3 YRS

• PETRONET LNG EXEC: DO NOT FORESEE ANY CHALLENGES IN GLOBAL LNG SUPPLIES

• PETRONET LNG EXEC: EXPANSION OF DAHEJ LNG TERMINAL IS EXPECTED TO COMPLETED BY MARCH 2025

• PETRONET LNG EXEC: ADDITIONAL LNG TANKS AT DAHEJ LNG TERMINAL TO BE COMPLETED BY JUNE 2024

• PETRONET LNG EXEC: SEES NO IMPACT ON LNG SUPPLIES TO PETRONET'S IMPORT FACILITIES DUE TO RECENT EVENTS IN RED SEA REGION

Source text for Eikon: [ID:]

Further company coverage: PLNG.NS

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** Shares of Petronet LNG Ltd PLNG.NS up 5.1% at 259.35 rupees

** Qatar Energy could sign deal with Indian buyers, including state-run PLNG for cheaper long-term LNG supply by at least Jan-end, Reuters reported on Friday citing sources

** Deal also allows Indian buyers to decide which terminal in India will receive cargoes, thereby reducing pipeline transportation costs

** Stock jumped as much as 7.9% earlier in the session to its highest since Sept 2019, when it hit record high after deal with U.S.-based Tellurian for LNG purchases

** Stock rose 1.3% on Saturday; trading was closed on Monday

** Over 22.7 mln shares traded vs 30-day avg of ~4.9 mln shares

** Thirty analysts covering PLNG rate it "hold" on avg; median PT is 230 rupees - LSEG data

(Reporting by Nandan Mandayam in Bengaluru)

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By Nidhi Verma

NEW DELHI, Jan 3 (Reuters) - India's top gas importer Petronet LNG PLNG.NS is likely to sign a deal this month to extend its long-term liquefied natural gas (LNG) imports from Qatar to beyond 2028, India's Oil Secretary said on Wednesday.

Petronet has a 7.5-million metric ton per year (tpy) long-term LNG import deal with Qatar and its promoters Indian Oil Corp IOC.NS, Bharat Petroleum Corp BPCL.NS and GAIL (India) Ltd GAIL.NS has a 1 million tpy deal.

Indian companies had until the end of 2023 to negotiate with Qatar for renewal of the deals to beyond 2028.

"We are pretty close to signing the deal," Oil Secretary Pankaj Jain told reporters.

Qatar, the world's top LNG exporter, aims to expand its liquefaction capacity to 126 million tpy by 2027 from 77 million and has signed long-term deals with European majors Shell SHEL.L, TotalEnergies TTEF.PA and ENI ENI.MI.

It has also signed long-term gas deals with China's Sinopec, China National Petroleum Corp and Bangladesh.

(Reporting by Nidhi Verma; Writing by Shivam Patel;Editing by Elaine Hardcastle)

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