Petronet LNG
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May 5 (Reuters) - Petronet LNG Ltd PLNG.NS:
INDIA PETRONET LNG EXEC SAYS EXPECT QATAR ENERGY SUPPLIES TO RESUME IN JUNE IF MIDDLE EAST CRISES EASE
INDIA PETRONET LNG EXEC: IN TALKS WITH QATAR ENERGY TO SUPPLY CARGOES HIT BY FORCE MAJEURE IN THIS YEAR
INDIA PETRONET LNG EXEC: SEES FY27 CAPEX AT 90 BILLION RUPEES, FY28 COULD BE 10% HIGHER
INDIA PETRONET LNG EXEC: OPERATING DAHEJ TERMINAL AT AROUND 53% CAPACITY
Further company coverage: PLNG.NS
(([email protected];))
May 5 (Reuters) - Petronet LNG Ltd PLNG.NS:
INDIA PETRONET LNG EXEC SAYS EXPECT QATAR ENERGY SUPPLIES TO RESUME IN JUNE IF MIDDLE EAST CRISES EASE
INDIA PETRONET LNG EXEC: IN TALKS WITH QATAR ENERGY TO SUPPLY CARGOES HIT BY FORCE MAJEURE IN THIS YEAR
INDIA PETRONET LNG EXEC: SEES FY27 CAPEX AT 90 BILLION RUPEES, FY28 COULD BE 10% HIGHER
INDIA PETRONET LNG EXEC: OPERATING DAHEJ TERMINAL AT AROUND 53% CAPACITY
Further company coverage: PLNG.NS
(([email protected];))
By Nidhi Verma
NEW DELHI, May 4 (Reuters) - India's top gas importer Petronet LNG PLNG.NS expects to receive its full contracted amount of liquefied natural gas from Qatar once the geopolitical situation in the Middle East stabilises, chief executive A. K. Singh said on Monday.
Qatar, India's largest LNG supplier, has a contract to supply 7.5 million metric tons per year of LNG to Petronet, equivalent to 9-10 cargoes per month.
However, supplies were halted in March following the closure of the Strait of Hormuz, while Iran struck two of Qatar's 14 LNG production trains, forcing it to declare force majeure.
Qatar has said repairs will sideline 12.8 million tons per year of LNG for three to five years.
Singh said Petronet had not been receiving cargoes from the trains that were damaged in attacks.
"We hope and expect our supplies will not be cut," Singh told a press conference, adding that Qatar had notified the company of force majeure for May deliveries.
Petronet is building three new LNG storage tanks - two at a new import terminal in eastern India and one at Kochi terminal in the south - and Singh added that it is also scouting for land to build four additional tanks near its 22.5 million ton per year Dahej terminal in western Gujarat state.
(Reporting by Nidhi Verma; Editing by Kirsten Donova)
(([email protected]; X: @nidhi712;))
By Nidhi Verma
NEW DELHI, May 4 (Reuters) - India's top gas importer Petronet LNG PLNG.NS expects to receive its full contracted amount of liquefied natural gas from Qatar once the geopolitical situation in the Middle East stabilises, chief executive A. K. Singh said on Monday.
Qatar, India's largest LNG supplier, has a contract to supply 7.5 million metric tons per year of LNG to Petronet, equivalent to 9-10 cargoes per month.
However, supplies were halted in March following the closure of the Strait of Hormuz, while Iran struck two of Qatar's 14 LNG production trains, forcing it to declare force majeure.
Qatar has said repairs will sideline 12.8 million tons per year of LNG for three to five years.
Singh said Petronet had not been receiving cargoes from the trains that were damaged in attacks.
"We hope and expect our supplies will not be cut," Singh told a press conference, adding that Qatar had notified the company of force majeure for May deliveries.
Petronet is building three new LNG storage tanks - two at a new import terminal in eastern India and one at Kochi terminal in the south - and Singh added that it is also scouting for land to build four additional tanks near its 22.5 million ton per year Dahej terminal in western Gujarat state.
(Reporting by Nidhi Verma; Editing by Kirsten Donova)
(([email protected]; X: @nidhi712;))
April 22 (Reuters) -
INDIA GOVERNMENT OFFICIAL: COMMISSIONING PERMISSION GRANTED TO PETRONET LNG FOR EXPANDED DAHEJ LNG TERMINAL
Further company coverage: PLNG.NS
(([email protected];))
April 22 (Reuters) -
INDIA GOVERNMENT OFFICIAL: COMMISSIONING PERMISSION GRANTED TO PETRONET LNG FOR EXPANDED DAHEJ LNG TERMINAL
Further company coverage: PLNG.NS
(([email protected];))
April 1 (Reuters) - Petronet LNG Ltd PLNG.NS:
PETRONET LNG LTD - COMMISSIONED EXPANSION OF DAHEJ LNG TERMINAL TO 22.5 MMTPA ON MARCH 31, 2026
Source text: ID:nBSE1K29TZ
Further company coverage: PLNG.NS
(([email protected];))
April 1 (Reuters) - Petronet LNG Ltd PLNG.NS:
PETRONET LNG LTD - COMMISSIONED EXPANSION OF DAHEJ LNG TERMINAL TO 22.5 MMTPA ON MARCH 31, 2026
Source text: ID:nBSE1K29TZ
Further company coverage: PLNG.NS
(([email protected];))
India asks oil, gas companies to disclose import, export data
India hit hard by Middle East crisis
Relies heavily on region for imports of oil, LPG and LNG
Recasts with comments from oil ministry
By Nidhi Verma
March 19 (Reuters) - India, the world's fourth-largest refiner, will review its fuel exports if needed to ensure availability in the local markets, a government official said on Thursday, amid global disruption and soaring oil prices stemming from the Iran war.
"Domestic consumption is priority, and the government will review (the export plan)," Sujata Sharma, a joint secretary in the federal petroleum ministry told a news conference.
India has ordered oil and gas companies to share full details of exports, imports and inventories with a government agency, as the South Asian nation seeks to shield consumers from shortages.
India has designated the Petroleum Planning and Analysis Cell to compile the information and all companies must share information regardless of any confidentiality obligations.
India has been hit hard by the jump in crude prices and disruption in oil and gas supplies, but unlike China it has not moved to ban exports of refined fuels.
The data will help India in taking faster and "more targeted interventions such as imposing export restrictions or calibrating export flows to meet its own energy security", said Prashant Vashisth, vice president at Moody's affiliate ICRA.
He said India can use its excess refining capacity to prioritise fuel supply to friendly or strategically aligned countries after meeting its local demand.
"Nowadays buyers are willing to pay a higher price. The question is of availability, which is beginning to outweigh prices," Vashisth said.
Any move to curtail fuel exports by India will hit Reliance Industries RELI.NS, the operator of the world's biggest refining complex, as other refiners have largely stopped exporting fuels.
All companies involved in the oil and gas supply chain including oil producers, importers, refiners, fuel and gas retailers, liquefied natural gas importers, pipeline operators, and petrochemical plants were ordered to provide PPAC with data.
India, the world's third-biggest oil importer and consumer, meets over 90% of its oil needs through purchases from overseas.
So far the federal government has said there are adequate crude supplies and refined fuel stocks to meet local demand.
However, the world's second-largest LPG importer is facing its worst cooking gas crisis in decades with shipments from the Strait of Hormuz almost halted due to the war.
India was sourcing more than 40% of its crude imports and 90% of its liquefied petroleum gas imports from the Middle East.
Indian refiners have bought millions of barrels of Russian oil floating on the high seas after Washington granted a sanctions waiver.
The country has invoked emergency powers ordering refiners to maximise production of LPG and cut sales to industry to avoid a shortage for its 333 million homes with LPG connections.
India last week asked consumers to avoid panic buying of LPG cylinders and shift to piped natural gas where possible.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Andrew Cawthorne, Deepa Babington, Kevin Buckland, Alexandra Hudson)
(([email protected];))
India asks oil, gas companies to disclose import, export data
India hit hard by Middle East crisis
Relies heavily on region for imports of oil, LPG and LNG
Recasts with comments from oil ministry
By Nidhi Verma
March 19 (Reuters) - India, the world's fourth-largest refiner, will review its fuel exports if needed to ensure availability in the local markets, a government official said on Thursday, amid global disruption and soaring oil prices stemming from the Iran war.
"Domestic consumption is priority, and the government will review (the export plan)," Sujata Sharma, a joint secretary in the federal petroleum ministry told a news conference.
India has ordered oil and gas companies to share full details of exports, imports and inventories with a government agency, as the South Asian nation seeks to shield consumers from shortages.
India has designated the Petroleum Planning and Analysis Cell to compile the information and all companies must share information regardless of any confidentiality obligations.
India has been hit hard by the jump in crude prices and disruption in oil and gas supplies, but unlike China it has not moved to ban exports of refined fuels.
The data will help India in taking faster and "more targeted interventions such as imposing export restrictions or calibrating export flows to meet its own energy security", said Prashant Vashisth, vice president at Moody's affiliate ICRA.
He said India can use its excess refining capacity to prioritise fuel supply to friendly or strategically aligned countries after meeting its local demand.
"Nowadays buyers are willing to pay a higher price. The question is of availability, which is beginning to outweigh prices," Vashisth said.
Any move to curtail fuel exports by India will hit Reliance Industries RELI.NS, the operator of the world's biggest refining complex, as other refiners have largely stopped exporting fuels.
All companies involved in the oil and gas supply chain including oil producers, importers, refiners, fuel and gas retailers, liquefied natural gas importers, pipeline operators, and petrochemical plants were ordered to provide PPAC with data.
India, the world's third-biggest oil importer and consumer, meets over 90% of its oil needs through purchases from overseas.
So far the federal government has said there are adequate crude supplies and refined fuel stocks to meet local demand.
However, the world's second-largest LPG importer is facing its worst cooking gas crisis in decades with shipments from the Strait of Hormuz almost halted due to the war.
India was sourcing more than 40% of its crude imports and 90% of its liquefied petroleum gas imports from the Middle East.
Indian refiners have bought millions of barrels of Russian oil floating on the high seas after Washington granted a sanctions waiver.
The country has invoked emergency powers ordering refiners to maximise production of LPG and cut sales to industry to avoid a shortage for its 333 million homes with LPG connections.
India last week asked consumers to avoid panic buying of LPG cylinders and shift to piped natural gas where possible.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Andrew Cawthorne, Deepa Babington, Kevin Buckland, Alexandra Hudson)
(([email protected];))
JSW Steel Coated Products units face gas shortages
JSW says operational stability, supply chain affected by Mideast
Indian steel body calls for fast-track subsidised spot imports
By Neha Arora
NEW DELHI, March 16 (Reuters) - Mounting gas shortages have disrupted operations at some steel plants of India's top metals conglomerate JSW Group, with one unit facing a potential shutdown in the coming days, according to an internal note seen by Reuters.
India, the world's second-largest crude steel producer, is facing its worst gas crisis in decades after the Middle East conflict disrupted supply routes.
JSW said in the note that disruptions to fuel supplies and maritime operations were starting to affect its operational stability and supply chain. As a result JSW Steel Coated Products risked missing sales and supply obligations for tinplate under the government's production-linked incentive scheme and has requested a six-month extension, it added.
"JSW has also received force majeure notice from one of its key suppliers - Petronet LNG Ltd owing to Middle East crisis affecting LNG shipment," the note said.
JSW did not immediately respond to a request for comment.
HUGE ADVERSE IMPACT
In a separate letter, also seen by Reuters, to the federal steel secretary dated March 7, the Indian Steel Association said a shortfall of propane and liquefied petroleum gas affected the entire value chain and would have a "huge adverse impact" on steel-based micro, small and medium enterprises and their ancillary units, which employ a large workforce.
JSW Steel JSTL.NS, Tata Steel TISC.NS and state-run Steel Authority of India SAIL.NS are among the ISA's members.
India has invoked emergency measures, restricting natural gas use to priority sectors after liquefied natural gas shipments through the Strait of Hormuz were disrupted by the conflict.
The ISA has asked the government to fast-track subsidised spot imports from non-Middle East sources and ensure priority allocation to steel and allied industrial clusters.
The steel association did not immediately respond to a request for comment.
India's small steel producers have warned of production halts because of gas shortages, Reuters reported last week.
(Reporting by Neha Arora; editing by Mayank Bhardwaj, Kirsten Donovan)
(([email protected]; X: neha_5;))
JSW Steel Coated Products units face gas shortages
JSW says operational stability, supply chain affected by Mideast
Indian steel body calls for fast-track subsidised spot imports
By Neha Arora
NEW DELHI, March 16 (Reuters) - Mounting gas shortages have disrupted operations at some steel plants of India's top metals conglomerate JSW Group, with one unit facing a potential shutdown in the coming days, according to an internal note seen by Reuters.
India, the world's second-largest crude steel producer, is facing its worst gas crisis in decades after the Middle East conflict disrupted supply routes.
JSW said in the note that disruptions to fuel supplies and maritime operations were starting to affect its operational stability and supply chain. As a result JSW Steel Coated Products risked missing sales and supply obligations for tinplate under the government's production-linked incentive scheme and has requested a six-month extension, it added.
"JSW has also received force majeure notice from one of its key suppliers - Petronet LNG Ltd owing to Middle East crisis affecting LNG shipment," the note said.
JSW did not immediately respond to a request for comment.
HUGE ADVERSE IMPACT
In a separate letter, also seen by Reuters, to the federal steel secretary dated March 7, the Indian Steel Association said a shortfall of propane and liquefied petroleum gas affected the entire value chain and would have a "huge adverse impact" on steel-based micro, small and medium enterprises and their ancillary units, which employ a large workforce.
JSW Steel JSTL.NS, Tata Steel TISC.NS and state-run Steel Authority of India SAIL.NS are among the ISA's members.
India has invoked emergency measures, restricting natural gas use to priority sectors after liquefied natural gas shipments through the Strait of Hormuz were disrupted by the conflict.
The ISA has asked the government to fast-track subsidised spot imports from non-Middle East sources and ensure priority allocation to steel and allied industrial clusters.
The steel association did not immediately respond to a request for comment.
India's small steel producers have warned of production halts because of gas shortages, Reuters reported last week.
(Reporting by Neha Arora; editing by Mayank Bhardwaj, Kirsten Donovan)
(([email protected]; X: neha_5;))
By Sethuraman N R
NEW DELHI, March 10 (Reuters) - India will likely lean more on its coal capacity to meet peak power demand this summer as liquefied natural gas supplies tighten after shipping disruptions linked to the U.S.-Israeli war on Iran hit exports from major producers, two industry officials said.
New Delhi typically pushes power plants to ramp up generation during the April-June summer months, including costly gas-fired generation, to meet surging electricity demand and subsidises the cost for companies to shield customers from higher prices.
But so far the government has received no bids from power companies to supply 12,000 megawatt-hour of gas-based power for the summer months, an official with knowledge of the matter said. The tender will close in the next two days.
A second official said the power ministry is looking to bring coal plants out of planned outages and advising generators to avoid shutdowns during the peak summer months.
Top utility NTPC NTPC.NS has already told India's grid regulator it will not be able to supply gas-fired power during the April–June summer months, two company sources said.
NTPC and the federal power ministry did not respond to Reuters emails seeking comment.
EMERGENCY PROVISIONS
India has invoked emergency provisions and declared force majeure, reprioritising natural gas supplies to key sectors such as households and fertiliser plants.
India's Petronet LNG Ltd PLNG.NS, the country's top gas importer, has also issued a force majeure notice to customers including top power suppliers GAIL (India) Ltd, Indian Oil Corp IOC.NS and Bharat Petroleum Corp BPCL.NS after supplies from Qatar and Abu Dhabi National Oil Company were halted.
The country has about 20 gigawatts (GW) of gas-based generation capacity, which typically operates at 6-10% utilisation due to costly LNG, but rises to about 30% during the summer months.
Even if peak demand reaches 250–260 GW this summer, India is unlikely to face material power cuts given ample coal, lignite, nuclear, hydro and wind capacity, said Gautam Shahi, senior director at Crisil Ratings.
India relies on coal power for nearly 75% of its power generation.
"India's thermal coal market is seeing steady import demand, particularly for coal grades used by power producers," said Vasudev Pamnani, director at Gujarat-based coal trader i-Energy Resources.
(Reporting by Sethuraman NR; Editing by Saad Sayeed)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]/))
By Sethuraman N R
NEW DELHI, March 10 (Reuters) - India will likely lean more on its coal capacity to meet peak power demand this summer as liquefied natural gas supplies tighten after shipping disruptions linked to the U.S.-Israeli war on Iran hit exports from major producers, two industry officials said.
New Delhi typically pushes power plants to ramp up generation during the April-June summer months, including costly gas-fired generation, to meet surging electricity demand and subsidises the cost for companies to shield customers from higher prices.
But so far the government has received no bids from power companies to supply 12,000 megawatt-hour of gas-based power for the summer months, an official with knowledge of the matter said. The tender will close in the next two days.
A second official said the power ministry is looking to bring coal plants out of planned outages and advising generators to avoid shutdowns during the peak summer months.
Top utility NTPC NTPC.NS has already told India's grid regulator it will not be able to supply gas-fired power during the April–June summer months, two company sources said.
NTPC and the federal power ministry did not respond to Reuters emails seeking comment.
EMERGENCY PROVISIONS
India has invoked emergency provisions and declared force majeure, reprioritising natural gas supplies to key sectors such as households and fertiliser plants.
India's Petronet LNG Ltd PLNG.NS, the country's top gas importer, has also issued a force majeure notice to customers including top power suppliers GAIL (India) Ltd, Indian Oil Corp IOC.NS and Bharat Petroleum Corp BPCL.NS after supplies from Qatar and Abu Dhabi National Oil Company were halted.
The country has about 20 gigawatts (GW) of gas-based generation capacity, which typically operates at 6-10% utilisation due to costly LNG, but rises to about 30% during the summer months.
Even if peak demand reaches 250–260 GW this summer, India is unlikely to face material power cuts given ample coal, lignite, nuclear, hydro and wind capacity, said Gautam Shahi, senior director at Crisil Ratings.
India relies on coal power for nearly 75% of its power generation.
"India's thermal coal market is seeing steady import demand, particularly for coal grades used by power producers," said Vasudev Pamnani, director at Gujarat-based coal trader i-Energy Resources.
(Reporting by Sethuraman NR; Editing by Saad Sayeed)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]/))
NEW DELHI, March 5 (Reuters) - India's GAIL (India) GAIL.NS said on Thursday it will assess curbing supplies to natural gas customers after a force majeure notice from long-term supplier Petronet LNG PLNG.NS over constraints on vessels as conflict escalates in the Middle East.
The U.S. and Israel's war on Iran has disrupted fuel shipments from the Gulf, affecting India's imports of liquefied natural gas from key supplier Qatar.
Fallout from the U.S.-Israeli attacks on Iran and a widening war has brought the transit of oil and LNG through the Strait of Hormuz to a near halt after some vessels in the area were hit.
The allocation of LNG from Petronet to GAIL has been reduced to zero with effect from March 4, GAIL said, adding that the potential impact from the force majeure could not be quantified.
LNG supplies to GAIL from other sources and suppliers are currently unaffected, the gas marketing company said in a statement to stock exchanges.
Petronet LNG, India's top gas importer, on Wednesday issued a force majeure notice to its supplier, QatarEnergy, and to local buyers like GAIL and Indian Oil Corp IOC.NS, after its LNG tankers were unable to reach the LNG loading terminal at Ras Laffan, it said in an exchange filing.
GAIL and IOC have already reduced gas supplies to industrial customers, Reuters reported on Tuesday.
India imported 27 million metric tons of LNG in 2024/25, about half of its overall gas consumption, according to government data. The bulk of the LNG comes from Qatar.
(Reporting by Sethuraman NR; Editing by Tom Hogue)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
NEW DELHI, March 5 (Reuters) - India's GAIL (India) GAIL.NS said on Thursday it will assess curbing supplies to natural gas customers after a force majeure notice from long-term supplier Petronet LNG PLNG.NS over constraints on vessels as conflict escalates in the Middle East.
The U.S. and Israel's war on Iran has disrupted fuel shipments from the Gulf, affecting India's imports of liquefied natural gas from key supplier Qatar.
Fallout from the U.S.-Israeli attacks on Iran and a widening war has brought the transit of oil and LNG through the Strait of Hormuz to a near halt after some vessels in the area were hit.
The allocation of LNG from Petronet to GAIL has been reduced to zero with effect from March 4, GAIL said, adding that the potential impact from the force majeure could not be quantified.
LNG supplies to GAIL from other sources and suppliers are currently unaffected, the gas marketing company said in a statement to stock exchanges.
Petronet LNG, India's top gas importer, on Wednesday issued a force majeure notice to its supplier, QatarEnergy, and to local buyers like GAIL and Indian Oil Corp IOC.NS, after its LNG tankers were unable to reach the LNG loading terminal at Ras Laffan, it said in an exchange filing.
GAIL and IOC have already reduced gas supplies to industrial customers, Reuters reported on Tuesday.
India imported 27 million metric tons of LNG in 2024/25, about half of its overall gas consumption, according to government data. The bulk of the LNG comes from Qatar.
(Reporting by Sethuraman NR; Editing by Tom Hogue)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
NEW DELHI, March 4 (Reuters) - India's top gas importer Petronet LNG Ltd PLNG.NS has issued a force majeure notice to its supplier QatarEnergy and local buyers as its vessels are unable to reach Ras Laffan load port due to the crisis in the Middle East, it said in an exchange filing on Wednesday.
The U.S.-Iran conflict has disrupted fuel shipments in the region. Transit through the Strait of Hormuz between Iran and Oman, which carries around one-fifth of oil consumed globally as well as large quantities of liquefied natural gas, has ground to a near-halt after some vessels in the area were hit.
Due to the prevailing security situation and the material risks posed to maritime navigation, Petronet has issued a Force Majeure Notice to QatarEnergy for its LNG tankers Disha, Raahi, and Aseem, it said in the notice issued late Tuesday.
Petronet has also issued force majeure to its customers GAIL (India) Ltd GAIL.NS, Indian Oil Corp IOC.NS (IOCL), and Bharat Petroleum Corp BPCL.NS.
QatarEnergy has also issued a notice to Petronet "indicating a potential event of Force Majeure due to the hostilities prevailing in the region", the Indian company said.
Indian gas suppliers GAIL and Indian Oil Corp have already reduced gas supplies to industries including fertiliser plants, Reuters reported on Tuesday.
(Reporting by Nidhi Verma; Editing by Nivedita Bhattacharjee)
(([email protected]; X: @nidhi712;))
NEW DELHI, March 4 (Reuters) - India's top gas importer Petronet LNG Ltd PLNG.NS has issued a force majeure notice to its supplier QatarEnergy and local buyers as its vessels are unable to reach Ras Laffan load port due to the crisis in the Middle East, it said in an exchange filing on Wednesday.
The U.S.-Iran conflict has disrupted fuel shipments in the region. Transit through the Strait of Hormuz between Iran and Oman, which carries around one-fifth of oil consumed globally as well as large quantities of liquefied natural gas, has ground to a near-halt after some vessels in the area were hit.
Due to the prevailing security situation and the material risks posed to maritime navigation, Petronet has issued a Force Majeure Notice to QatarEnergy for its LNG tankers Disha, Raahi, and Aseem, it said in the notice issued late Tuesday.
Petronet has also issued force majeure to its customers GAIL (India) Ltd GAIL.NS, Indian Oil Corp IOC.NS (IOCL), and Bharat Petroleum Corp BPCL.NS.
QatarEnergy has also issued a notice to Petronet "indicating a potential event of Force Majeure due to the hostilities prevailing in the region", the Indian company said.
Indian gas suppliers GAIL and Indian Oil Corp have already reduced gas supplies to industries including fertiliser plants, Reuters reported on Tuesday.
(Reporting by Nidhi Verma; Editing by Nivedita Bhattacharjee)
(([email protected]; X: @nidhi712;))
US, Israeli strikes on Iran have choked tanker traffic, halted Qatari output
More than 80% of Qatar LNG exports go to Asia
Benchmark Asian LNG prices rose nearly 40% on Monday
By Emily Chow and Sudarshan Varadhan
SINGAPORE, March 3 (Reuters) - India began rationing natural gas on Tuesday while countries around Asia looked to the spot market to replace supplies, activated emergency plans and prepared to step up production, as the conflict in the Middle East curtailed shipping and halted Qatari output.
Government officials and company executives in Japan, Taiwan, Bangladesh and Pakistan said they did not expect an immediate impact as some cargoes due this month had already arrived, but they would diversify their import sources and buy liquefied natural gas (LNG) from the spot market if the war drags on.
LNG buyers in Asia account for more than 80% of shipments from Qatar, the world's No. 2 producer after the U.S., according to data from analytics firm Kpler.
In India, gas firms on Tuesday reduced supplies to companies in anticipation of tighter supply from the Middle East after Qatar halted production, Reuters reported.
Taiwan, which generates more than 40% of its electricity from LNG and imports a third of its supply from Qatar, will buy more from the U.S. and could coordinate with South Korea and Japan if a shipping blockade stretches on, its economy ministry said on Tuesday.
"We will continue moving in the direction we have been pursuing all along: obtaining sufficient quantities of energy through diversified markets," Taiwan Premier Cho Jung-tai said, adding that an "emergency response mechanism" had been activated to deal with the Qatari supply disruption.
Japan, which is the world's No. 2 LNG importer and sources 4% of its gas from Qatar, could tap the spot market or have utilities buy from each other if needed, its trade minister said.
SOUTH ASIA LNG SUPPLY
In Bangladesh and Pakistan, industry officials likened the situation to the aftermath of Russia's 2022 invasion of Ukraine, when LNG prices spiked and supply was disrupted, causing prolonged power outages.
While Pakistan's significant solar generation will prevent daytime power cuts, Bangladesh is at risk of shortages and may need to increase coal and power imports from India, industry experts said.
A senior official at state-run Petrobangla said a prolonged disruption would pressure power generation and industrial output as the peak summer season approaches.
So far, four out of Bangladesh's nine scheduled Qatari cargoes for March have crossed through the Strait of Hormuz, the official said, adding that Dhaka may seek to acquire spot cargoes.
"The real question is where prices will go," the executive said. "Prices could rise manyfold and frankly, we simply cannot afford that."
Benchmark Asian LNG prices rose as much as nearly 40% on Monday, while benchmark European wholesale gas prices closed around 35% to 40% higher.
Pakistan, which receives nearly all of its LNG from Qatar, plans to increase domestic natural gas production and reduce regasification rates at its terminals, industry officials said.
Unlike other Asian countries, delivery delays could help Pakistan, where a LNG glut has forced local gas extraction companies to curtail output and drained its forex reserves.
Qatar's LNG exports by destination https://reut.rs/4b6BxTr
(Reporting by Emily Chow and Sudarshan Varadhan in Singapore, Ben Blanchard and Emily Chan in Taipei, Ariba Shahid in Karachi, Ruma Paul in Dhaka, Yoshifumi Takemoto and Jekaterina Golubkova in Tokyo, Nidhi Verma in New Delhi; Writing by Sudarshan Varadhan; Editing by Thomas Derpinghaus)
(([email protected]; +65 91164984;))
US, Israeli strikes on Iran have choked tanker traffic, halted Qatari output
More than 80% of Qatar LNG exports go to Asia
Benchmark Asian LNG prices rose nearly 40% on Monday
By Emily Chow and Sudarshan Varadhan
SINGAPORE, March 3 (Reuters) - India began rationing natural gas on Tuesday while countries around Asia looked to the spot market to replace supplies, activated emergency plans and prepared to step up production, as the conflict in the Middle East curtailed shipping and halted Qatari output.
Government officials and company executives in Japan, Taiwan, Bangladesh and Pakistan said they did not expect an immediate impact as some cargoes due this month had already arrived, but they would diversify their import sources and buy liquefied natural gas (LNG) from the spot market if the war drags on.
LNG buyers in Asia account for more than 80% of shipments from Qatar, the world's No. 2 producer after the U.S., according to data from analytics firm Kpler.
In India, gas firms on Tuesday reduced supplies to companies in anticipation of tighter supply from the Middle East after Qatar halted production, Reuters reported.
Taiwan, which generates more than 40% of its electricity from LNG and imports a third of its supply from Qatar, will buy more from the U.S. and could coordinate with South Korea and Japan if a shipping blockade stretches on, its economy ministry said on Tuesday.
"We will continue moving in the direction we have been pursuing all along: obtaining sufficient quantities of energy through diversified markets," Taiwan Premier Cho Jung-tai said, adding that an "emergency response mechanism" had been activated to deal with the Qatari supply disruption.
Japan, which is the world's No. 2 LNG importer and sources 4% of its gas from Qatar, could tap the spot market or have utilities buy from each other if needed, its trade minister said.
SOUTH ASIA LNG SUPPLY
In Bangladesh and Pakistan, industry officials likened the situation to the aftermath of Russia's 2022 invasion of Ukraine, when LNG prices spiked and supply was disrupted, causing prolonged power outages.
While Pakistan's significant solar generation will prevent daytime power cuts, Bangladesh is at risk of shortages and may need to increase coal and power imports from India, industry experts said.
A senior official at state-run Petrobangla said a prolonged disruption would pressure power generation and industrial output as the peak summer season approaches.
So far, four out of Bangladesh's nine scheduled Qatari cargoes for March have crossed through the Strait of Hormuz, the official said, adding that Dhaka may seek to acquire spot cargoes.
"The real question is where prices will go," the executive said. "Prices could rise manyfold and frankly, we simply cannot afford that."
Benchmark Asian LNG prices rose as much as nearly 40% on Monday, while benchmark European wholesale gas prices closed around 35% to 40% higher.
Pakistan, which receives nearly all of its LNG from Qatar, plans to increase domestic natural gas production and reduce regasification rates at its terminals, industry officials said.
Unlike other Asian countries, delivery delays could help Pakistan, where a LNG glut has forced local gas extraction companies to curtail output and drained its forex reserves.
Qatar's LNG exports by destination https://reut.rs/4b6BxTr
(Reporting by Emily Chow and Sudarshan Varadhan in Singapore, Ben Blanchard and Emily Chan in Taipei, Ariba Shahid in Karachi, Ruma Paul in Dhaka, Yoshifumi Takemoto and Jekaterina Golubkova in Tokyo, Nidhi Verma in New Delhi; Writing by Sudarshan Varadhan; Editing by Thomas Derpinghaus)
(([email protected]; +65 91164984;))
Feb 12 (Reuters) - Petronet LNG Ltd PLNG.NS:
PETRONET LNG DEC-QUARTER CONSOL PAT 8.46 BILLION RUPEES
PETRONET LNG LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 111.64 BILLION RUPEES
Source text: ID:nnAZN4SGCG1
Further company coverage: PLNG.NS
(([email protected];;))
Feb 12 (Reuters) - Petronet LNG Ltd PLNG.NS:
PETRONET LNG DEC-QUARTER CONSOL PAT 8.46 BILLION RUPEES
PETRONET LNG LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 111.64 BILLION RUPEES
Source text: ID:nnAZN4SGCG1
Further company coverage: PLNG.NS
(([email protected];;))
Repeats story with no changes to text
India’s growing refineries are locking in long-term deals
Traders see growth across crude, fuels and LNG
Most new refining capacity will be absorbed domestically, traders say
By Mohi Narayan and Nidhi Verma
SOUTH GOA, INDIA, Jan 30 (Reuters) - A rare combination of rising fuel demand and expanding refining capacity is drawing global commodity traders to India, with firms such as Trafigura seeking long-term partnerships with state oil companies.
As consumption growth slows in most major economies, trading firm executives told the India Energy Week conference that they see opportunities across crude, refined fuels and liquefied natural gas (LNG).
"We see massive opportunities in India," said Sachin Gupta, chief executive of Trafigura India, pointing to strong demand for diesel, gasoline and liquefied petroleum gas and adding that India would be buying "a lot" of liquefied natural gas.
Gupta expects Indian oil demand to reach closer to 9 million barrels per day by 2050, from about 5 million barrels per day currently.
On Friday, Trafigura said it signed a "landmark crude supply agreement" with Bharat Petroleum Corp to supply Iraqi Basrah and Omani crude to the Indian state refiner. BPCL also signed a term agreement with TotalEnergies TTEF.PA for the procurement of UAE crude.
GROWING DEMAND
Indian Oil Corp (IOC), the country's largest refiner, last year signed a five-year import deal with Trafigura to buy 2.5 million metric tons of LNG in a deal valued at $1.3 billion-$1.4 billion.
IOC's head of marketing, S.P. Srivastava told reporters at the conference that the company expects annual diesel demand to grow by 2-3% and gasoline demand to rise by 5-6% by 2030.
It signed a preliminary agreement with Paris-based Engie at India Energy Week for LNG and other natural gas trading opportunities in the Asia-Pacific region, IOC Chairman A.S. Sahney said.
Top gas importer Petronet LNG forecasts LNG imports will rise to 28 million-29 million tons in 2026, from about 25.5 million tons last year.
Trading giant Vitol expects most of India's refinery output to be absorbed domestically.
"There is 500,000 (barrels per day) of refining capacity coming online," said Kieran Gallagher, Vitol's Asia head. "Outside...summer seasonality and exports, largely the products derived from that capacity are going to be consumed within the country itself."
Opportunities for traders also extend to petrochemicals, where supply remains structurally short despite government estimates that production will rise by 29.62 million tons to 46 million tons by 2030.
(Reporting by Mohi Narayan and Nidhi Verma; additional reporting by Anjana Anil and Tanay Dhumal; editing by Mayank Bhardwaj, Kirsten Donovan)
(([email protected]; https://twitter.com/_mohi_; [email protected]))
Repeats story with no changes to text
India’s growing refineries are locking in long-term deals
Traders see growth across crude, fuels and LNG
Most new refining capacity will be absorbed domestically, traders say
By Mohi Narayan and Nidhi Verma
SOUTH GOA, INDIA, Jan 30 (Reuters) - A rare combination of rising fuel demand and expanding refining capacity is drawing global commodity traders to India, with firms such as Trafigura seeking long-term partnerships with state oil companies.
As consumption growth slows in most major economies, trading firm executives told the India Energy Week conference that they see opportunities across crude, refined fuels and liquefied natural gas (LNG).
"We see massive opportunities in India," said Sachin Gupta, chief executive of Trafigura India, pointing to strong demand for diesel, gasoline and liquefied petroleum gas and adding that India would be buying "a lot" of liquefied natural gas.
Gupta expects Indian oil demand to reach closer to 9 million barrels per day by 2050, from about 5 million barrels per day currently.
On Friday, Trafigura said it signed a "landmark crude supply agreement" with Bharat Petroleum Corp to supply Iraqi Basrah and Omani crude to the Indian state refiner. BPCL also signed a term agreement with TotalEnergies TTEF.PA for the procurement of UAE crude.
GROWING DEMAND
Indian Oil Corp (IOC), the country's largest refiner, last year signed a five-year import deal with Trafigura to buy 2.5 million metric tons of LNG in a deal valued at $1.3 billion-$1.4 billion.
IOC's head of marketing, S.P. Srivastava told reporters at the conference that the company expects annual diesel demand to grow by 2-3% and gasoline demand to rise by 5-6% by 2030.
It signed a preliminary agreement with Paris-based Engie at India Energy Week for LNG and other natural gas trading opportunities in the Asia-Pacific region, IOC Chairman A.S. Sahney said.
Top gas importer Petronet LNG forecasts LNG imports will rise to 28 million-29 million tons in 2026, from about 25.5 million tons last year.
Trading giant Vitol expects most of India's refinery output to be absorbed domestically.
"There is 500,000 (barrels per day) of refining capacity coming online," said Kieran Gallagher, Vitol's Asia head. "Outside...summer seasonality and exports, largely the products derived from that capacity are going to be consumed within the country itself."
Opportunities for traders also extend to petrochemicals, where supply remains structurally short despite government estimates that production will rise by 29.62 million tons to 46 million tons by 2030.
(Reporting by Mohi Narayan and Nidhi Verma; additional reporting by Anjana Anil and Tanay Dhumal; editing by Mayank Bhardwaj, Kirsten Donovan)
(([email protected]; https://twitter.com/_mohi_; [email protected]))
India’s growing refineries are locking in long-term deals
Traders see growth across crude, fuels and LNG
Most new refining capacity will be absorbed domestically, traders say
By Mohi Narayan and Nidhi Verma
SOUTH GOA, INDIA, Jan 30 (Reuters) - A rare combination of rising fuel demand and expanding refining capacity is drawing global commodity traders to India, with firms such as Trafigura seeking long-term partnerships with state oil companies.
As consumption growth slows in most major economies, trading firm executives told the India Energy Week conference that they see opportunities across crude, refined fuels and liquefied natural gas (LNG).
"We see massive opportunities in India," said Sachin Gupta, chief executive of Trafigura India, pointing to strong demand for diesel, gasoline and liquefied petroleum gas and adding that India would be buying "a lot" of liquefied natural gas.
Gupta expects Indian oil demand to reach closer to 9 million barrels per day by 2050, from about 5 million barrels per day currently.
On Friday, Trafigura said it signed a "landmark crude supply agreement" with Bharat Petroleum Corp to supply Iraqi Basrah and Omani crude to the Indian state refiner. BPCL also signed a term agreement with TotalEnergies TTEF.PA for the procurement of UAE crude.
GROWING DEMAND
Indian Oil Corp (IOC), the country's largest refiner, last year signed a five-year import deal with Trafigura to buy 2.5 million metric tons of LNG in a deal valued at $1.3 billion-$1.4 billion.
IOC's head of marketing, S.P. Srivastava told reporters at the conference that the company expects annual diesel demand to grow by 2-3% and gasoline demand to rise by 5-6% by 2030.
It signed a preliminary agreement with Paris-based Engie at India Energy Week for LNG and other natural gas trading opportunities in the Asia-Pacific region, IOC Chairman A.S. Sahney said.
Top gas importer Petronet LNG forecasts LNG imports will rise to 28 million-29 million tons in 2026, from about 25.5 million tons last year.
Trading giant Vitol expects most of India's refinery output to be absorbed domestically.
"There is 500,000 (barrels per day) of refining capacity coming online," said Kieran Gallagher, Vitol's Asia head. "Outside...summer seasonality and exports, largely the products derived from that capacity are going to be consumed within the country itself."
Opportunities for traders also extend to petrochemicals, where supply remains structurally short despite government estimates that production will rise by 29.62 million tons to 46 million tons by 2030.
(Reporting by Mohi Narayan and Nidhi Verma; additional reporting by Anjana Anil and Tanay Dhumal; editing by Mayank Bhardwaj, Kirsten Donovan)
(([email protected]; https://twitter.com/_mohi_; [email protected]))
India’s growing refineries are locking in long-term deals
Traders see growth across crude, fuels and LNG
Most new refining capacity will be absorbed domestically, traders say
By Mohi Narayan and Nidhi Verma
SOUTH GOA, INDIA, Jan 30 (Reuters) - A rare combination of rising fuel demand and expanding refining capacity is drawing global commodity traders to India, with firms such as Trafigura seeking long-term partnerships with state oil companies.
As consumption growth slows in most major economies, trading firm executives told the India Energy Week conference that they see opportunities across crude, refined fuels and liquefied natural gas (LNG).
"We see massive opportunities in India," said Sachin Gupta, chief executive of Trafigura India, pointing to strong demand for diesel, gasoline and liquefied petroleum gas and adding that India would be buying "a lot" of liquefied natural gas.
Gupta expects Indian oil demand to reach closer to 9 million barrels per day by 2050, from about 5 million barrels per day currently.
On Friday, Trafigura said it signed a "landmark crude supply agreement" with Bharat Petroleum Corp to supply Iraqi Basrah and Omani crude to the Indian state refiner. BPCL also signed a term agreement with TotalEnergies TTEF.PA for the procurement of UAE crude.
GROWING DEMAND
Indian Oil Corp (IOC), the country's largest refiner, last year signed a five-year import deal with Trafigura to buy 2.5 million metric tons of LNG in a deal valued at $1.3 billion-$1.4 billion.
IOC's head of marketing, S.P. Srivastava told reporters at the conference that the company expects annual diesel demand to grow by 2-3% and gasoline demand to rise by 5-6% by 2030.
It signed a preliminary agreement with Paris-based Engie at India Energy Week for LNG and other natural gas trading opportunities in the Asia-Pacific region, IOC Chairman A.S. Sahney said.
Top gas importer Petronet LNG forecasts LNG imports will rise to 28 million-29 million tons in 2026, from about 25.5 million tons last year.
Trading giant Vitol expects most of India's refinery output to be absorbed domestically.
"There is 500,000 (barrels per day) of refining capacity coming online," said Kieran Gallagher, Vitol's Asia head. "Outside...summer seasonality and exports, largely the products derived from that capacity are going to be consumed within the country itself."
Opportunities for traders also extend to petrochemicals, where supply remains structurally short despite government estimates that production will rise by 29.62 million tons to 46 million tons by 2030.
(Reporting by Mohi Narayan and Nidhi Verma; additional reporting by Anjana Anil and Tanay Dhumal; editing by Mayank Bhardwaj, Kirsten Donovan)
(([email protected]; https://twitter.com/_mohi_; [email protected]))
SOUTH GOA, India, Jan 28 (Reuters) - India's top gas importer Petronet LNG PLNG.NS sees the country's liquefied natural gas (LNG) imports rising to 28 million to 29 million metric tons in 2026 compared to about 25.5 million tons in 2025, Managing Director Akshay Kumar Singh told reporters at the Indian Energy Week conference on Wednesday.
India is the world's fourth-largest LNG importer.
(Reporting by Nidhi Verma; Writing by Emily Chow; Editing by Tom Hogue)
(([email protected]; Reuters Messaging: [email protected]))
SOUTH GOA, India, Jan 28 (Reuters) - India's top gas importer Petronet LNG PLNG.NS sees the country's liquefied natural gas (LNG) imports rising to 28 million to 29 million metric tons in 2026 compared to about 25.5 million tons in 2025, Managing Director Akshay Kumar Singh told reporters at the Indian Energy Week conference on Wednesday.
India is the world's fourth-largest LNG importer.
(Reporting by Nidhi Verma; Writing by Emily Chow; Editing by Tom Hogue)
(([email protected]; Reuters Messaging: [email protected]))
** Shares of Petronet LNG Ltd PLNG.NS rise 4.1% to 294.8 rupees
** J.P. Morgan upgrades PLNG to "overweight" from "neutral"; hikes PT to 335 rupees from 295 rupees
** Brokerage sees earnings momentum improving from FY27 on Dahej expansion, 5% annual tariff hike and lower impairment costs
** Says potential renegotiation of Dahej tariffs and 200-billion-rupee ($2.22 billion) Propane Dehydrogenation capex remain long-term valuation risks but are unlikely to materialise before 2028
** Improved near-term earnings should help the stock, JP Morgan says
** Average rating by 32 analysts on the stock is 'hold'; median PT is 313 rupees - data compiled by LSEG
** Stock fell nearly 18% in 2025
($1 = 89.9840 Indian rupees)
(Reporting by Brijesh Patel in Bengaluru)
(([email protected]; Ph no. +91 9590227221;))
** Shares of Petronet LNG Ltd PLNG.NS rise 4.1% to 294.8 rupees
** J.P. Morgan upgrades PLNG to "overweight" from "neutral"; hikes PT to 335 rupees from 295 rupees
** Brokerage sees earnings momentum improving from FY27 on Dahej expansion, 5% annual tariff hike and lower impairment costs
** Says potential renegotiation of Dahej tariffs and 200-billion-rupee ($2.22 billion) Propane Dehydrogenation capex remain long-term valuation risks but are unlikely to materialise before 2028
** Improved near-term earnings should help the stock, JP Morgan says
** Average rating by 32 analysts on the stock is 'hold'; median PT is 313 rupees - data compiled by LSEG
** Stock fell nearly 18% in 2025
($1 = 89.9840 Indian rupees)
(Reporting by Brijesh Patel in Bengaluru)
(([email protected]; Ph no. +91 9590227221;))
Jan 2 (Reuters) - Petronet LNG Ltd PLNG.NS:
PANKAJ JAIN CEASED TO BE CHAIRMAN
Source text: ID:nNSEc3k0Sg
Further company coverage: PLNG.NS
(([email protected];))
Jan 2 (Reuters) - Petronet LNG Ltd PLNG.NS:
PANKAJ JAIN CEASED TO BE CHAIRMAN
Source text: ID:nNSEc3k0Sg
Further company coverage: PLNG.NS
(([email protected];))
** Shares of Petronet LNG Ltd PLNG.NS rise 3.3% to 277.70 rupees
** Co enters into 15-years ethane unloading, storage and handling services deal with Oil and Natural Gas Corp ONGC.NS, with revenue potential of about 50 billion rupees ($553.3 million)
** Nomura ("buy," PT: 360 rupees) sees this announcement as a positive development and expects that the remaining 50% capacity may also be booked before the ethane USH facility comes online
** Brokerage estimates first-year EBITDA on 1.4 billion rupees, adding that 15th year EBITDA can hit 2.75 billion rupees without taking any margin improvement
** Mean rating of stock is 'hold'; median PT is 316 rupees - data compiled by LSEG
($1 = 90.3700 Indian rupees)
(Reporting by Brijesh Patel in Bengaluru)
(([email protected]; Ph no. +91 9590227221;))
** Shares of Petronet LNG Ltd PLNG.NS rise 3.3% to 277.70 rupees
** Co enters into 15-years ethane unloading, storage and handling services deal with Oil and Natural Gas Corp ONGC.NS, with revenue potential of about 50 billion rupees ($553.3 million)
** Nomura ("buy," PT: 360 rupees) sees this announcement as a positive development and expects that the remaining 50% capacity may also be booked before the ethane USH facility comes online
** Brokerage estimates first-year EBITDA on 1.4 billion rupees, adding that 15th year EBITDA can hit 2.75 billion rupees without taking any margin improvement
** Mean rating of stock is 'hold'; median PT is 316 rupees - data compiled by LSEG
($1 = 90.3700 Indian rupees)
(Reporting by Brijesh Patel in Bengaluru)
(([email protected]; Ph no. +91 9590227221;))
By Sethuraman N R
NEW DELHI, Sept 23 (Reuters) - Sri Lanka has no immediate plans to import liquefied natural gas (LNG) from India, as the required infrastructure including storage facilities is yet to be built, the country’s energy minister said on Tuesday.
India announced last year it would supply LNG to Sri Lanka’s power plants and work on cross-border energy connectivity, including a petroleum pipeline and power grid link.
However, no progress has been made on the supply of LNG.
"We have to first build the storage facility. Construction has not commenced yet,” said Sri Lanka's energy minister Kumara Jayakody, speaking to Reuters on the sidelines of Confederation of Indian Industry's energy summit in New Delhi.
Sri Lanka is yet to finalise the LNG contract procurement with India, he said.
The minister said it would take at least three years to complete construction of the storage infrastructure, and imports would begin only after that.
While discussions to build storage had taken place under the previous government, no contracts have been finalised, he added.
“We are studying the earlier content, deciding the location, and evaluating the loan and pricing aspects,” Jayakody said.
Indian state-run firm Petronet LNG PLNG.NS had last year signed a deal to supply LNG to Sri Lankan engineering firm LTL Holdings' power plants in Colombo.
The minister said both countries have formed a team and are working on submitting prospective reports about the planned work of developing a cross-border transmission system from southern India to the island's north.
(Reporting by Sethuraman NR
Editing by Shri Navaratnam)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
By Sethuraman N R
NEW DELHI, Sept 23 (Reuters) - Sri Lanka has no immediate plans to import liquefied natural gas (LNG) from India, as the required infrastructure including storage facilities is yet to be built, the country’s energy minister said on Tuesday.
India announced last year it would supply LNG to Sri Lanka’s power plants and work on cross-border energy connectivity, including a petroleum pipeline and power grid link.
However, no progress has been made on the supply of LNG.
"We have to first build the storage facility. Construction has not commenced yet,” said Sri Lanka's energy minister Kumara Jayakody, speaking to Reuters on the sidelines of Confederation of Indian Industry's energy summit in New Delhi.
Sri Lanka is yet to finalise the LNG contract procurement with India, he said.
The minister said it would take at least three years to complete construction of the storage infrastructure, and imports would begin only after that.
While discussions to build storage had taken place under the previous government, no contracts have been finalised, he added.
“We are studying the earlier content, deciding the location, and evaluating the loan and pricing aspects,” Jayakody said.
Indian state-run firm Petronet LNG PLNG.NS had last year signed a deal to supply LNG to Sri Lankan engineering firm LTL Holdings' power plants in Colombo.
The minister said both countries have formed a team and are working on submitting prospective reports about the planned work of developing a cross-border transmission system from southern India to the island's north.
(Reporting by Sethuraman NR
Editing by Shri Navaratnam)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
July 28 (Reuters) - Petronet LNG Ltd PLNG.NS:
INDIA PETRONET LNG EXEC: PEGS FY26 CAPEX AT 50 BILLION RUPEES
PETRONET LNG EXEC: SEEKING A RUPEE TERM LOAN OF 120 BILLION RUPEES
Source text: [ID:]
Further company coverage: PLNG.NS
(([email protected];;))
July 28 (Reuters) - Petronet LNG Ltd PLNG.NS:
INDIA PETRONET LNG EXEC: PEGS FY26 CAPEX AT 50 BILLION RUPEES
PETRONET LNG EXEC: SEEKING A RUPEE TERM LOAN OF 120 BILLION RUPEES
Source text: [ID:]
Further company coverage: PLNG.NS
(([email protected];;))
July 25 (Reuters) - Petronet LNG Ltd PLNG.NS:
PETRONET LNG EXEC: LOWER POWER PLANTS' DEMAND, FERTILISER PLANTS' MAINTENANCE SHUTDOWN CUT LNG DEMAND IN INDIA
PETRONET LNG EXEC: LONG-TERM LNG IS CHEAPER THAN SPOT PRICES
PETRONET LNG EXEC: RAISES CAPEX FOR GOPALPUR LNG TERMINAL
PETRONET LNG EXEC: 5 MTPA GOPALPUR LNG TERMINAL TO COST 63.5 BILLION RUPEES
PETRONET LNG EXEC: EXPECT DAHEJ LNG TERMINAL EXPANSION TO 22.5 MTPA BY OCT
PETRONET LNG EXEC: AIMS TO OPERATE DAHEJ LNG TERMINAL AT NEW HIGHER CAPACITY IN JAN-MARCH 2026
Further company coverage: PLNG.NS
(([email protected];))
July 25 (Reuters) - Petronet LNG Ltd PLNG.NS:
PETRONET LNG EXEC: LOWER POWER PLANTS' DEMAND, FERTILISER PLANTS' MAINTENANCE SHUTDOWN CUT LNG DEMAND IN INDIA
PETRONET LNG EXEC: LONG-TERM LNG IS CHEAPER THAN SPOT PRICES
PETRONET LNG EXEC: RAISES CAPEX FOR GOPALPUR LNG TERMINAL
PETRONET LNG EXEC: 5 MTPA GOPALPUR LNG TERMINAL TO COST 63.5 BILLION RUPEES
PETRONET LNG EXEC: EXPECT DAHEJ LNG TERMINAL EXPANSION TO 22.5 MTPA BY OCT
PETRONET LNG EXEC: AIMS TO OPERATE DAHEJ LNG TERMINAL AT NEW HIGHER CAPACITY IN JAN-MARCH 2026
Further company coverage: PLNG.NS
(([email protected];))
** 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)
(([email protected];))
** 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)
(([email protected];))
** 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)
** 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)
By Nidhi Verma
NEW DELHI, May 19 (Reuters) - India's liquefied natural gas imports are expected to rise in the coming months to meet growing electricity demand in the country, said A. K. Singh, chief executive of the country's top gas importer Petronet LNG PLNG.NS.
India last week invoked emergency measures asking companies to operate underutilised gas-based power plants at higher capacity from May 26-June 30 to meet electricity demand in the country, a notice posted on the ministry's website shows.
India's power demand has been subdued so far this month as rains tempered temperatures in the country.
"We expect LNG demand to rise similar to last year's levels. Demand for power is rising in last few days so we are expecting demand for LNG to rise in the third or fourth week of May and in June," he said.
Power plants running on gas have been more expensive than those operating on coal, solar and wind power, resulting in idling of about three-fifth of all gas-fired power stations in the country.
The narrowing price gap between spot and long-term LNG prices is also pushing some companies to step up purchases, he said, adding Indian customers prefer LNG prices at below $10 per million British thermal units.
Petronet hopes to complete expansion of its 17.5 million tons per year (tpy) Dahaj terminal to 22.5 million tpy in the next three to four months, he said, adding his firm would maximise the utilisation of the terminal to meet demand in the summer season.
(Reporting by Nidhi Verma; Editing by Toby Chopra)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
By Nidhi Verma
NEW DELHI, May 19 (Reuters) - India's liquefied natural gas imports are expected to rise in the coming months to meet growing electricity demand in the country, said A. K. Singh, chief executive of the country's top gas importer Petronet LNG PLNG.NS.
India last week invoked emergency measures asking companies to operate underutilised gas-based power plants at higher capacity from May 26-June 30 to meet electricity demand in the country, a notice posted on the ministry's website shows.
India's power demand has been subdued so far this month as rains tempered temperatures in the country.
"We expect LNG demand to rise similar to last year's levels. Demand for power is rising in last few days so we are expecting demand for LNG to rise in the third or fourth week of May and in June," he said.
Power plants running on gas have been more expensive than those operating on coal, solar and wind power, resulting in idling of about three-fifth of all gas-fired power stations in the country.
The narrowing price gap between spot and long-term LNG prices is also pushing some companies to step up purchases, he said, adding Indian customers prefer LNG prices at below $10 per million British thermal units.
Petronet hopes to complete expansion of its 17.5 million tons per year (tpy) Dahaj terminal to 22.5 million tpy in the next three to four months, he said, adding his firm would maximise the utilisation of the terminal to meet demand in the summer season.
(Reporting by Nidhi Verma; Editing by Toby Chopra)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
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
(([email protected];;))
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
(([email protected];;))
April 18 (Reuters) - Petronet LNG Ltd PLNG.NS:
VINOD KUMAR MISHRA CEASES TO BE CFO
Source text: ID:nBSEc9Zh73
Further company coverage: PLNG.NS
(([email protected];))
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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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)
(([email protected];))
** 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)
(([email protected];))
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)
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)
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)
(([email protected];))
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)
(([email protected];))
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
(([email protected];;))
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
(([email protected];;))
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Popular questions
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What does Petronet LNG do?
Petronet LNG is engaged in import, storage and regasification of Liquefied Natural Gas (LNG). Its customers primarily consist of corporates such as Oil and Gas Entities, Gas Aggregators, Petrochemical Entities, Refineries, City Gas Distribution Entities, Fertilizer and Power Generating Entities and Other Industrial Entities.
Who are the competitors of Petronet LNG?
Petronet LNG major competitors are Confidence Petroleum, GAIL India, ONGC, Gujarat Energy, Indraprastha Gas, Mahanagar Gas, Adani Total Gas. Market Cap of Petronet LNG is ₹43,013 Crs. While the median market cap of its peers are ₹51,376 Crs.
Is Petronet LNG financially stable compared to its competitors?
Petronet LNG seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Petronet LNG pay decent dividends?
The company seems to pay a good stable dividend. Petronet LNG latest dividend payout ratio is 37.76% and 3yr average dividend payout ratio is 41.31%
How has Petronet LNG allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments, Capital Work in Progress, Inventory, Accounts Receivable, Short Term Loans & Advances
How strong is Petronet LNG balance sheet?
Balance sheet of Petronet LNG is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Petronet LNG improving?
The profit is oscillating. The profit of Petronet LNG is ₹3,809 Crs for TTM, ₹3,973 Crs for Mar 2025 and ₹3,652 Crs for Mar 2024.
Is the debt of Petronet LNG increasing or decreasing?
Yes, The net debt of Petronet LNG is increasing. Latest net debt of Petronet LNG is -₹10,114.13 Crs as of Mar-26. This is greater than Mar-25 when it was -₹17,728.65 Crs.
Is Petronet LNG stock expensive?
Yes, Petronet LNG is expensive. Latest PE of Petronet LNG is 11.07, while 3 year average PE is 10.92. Also latest EV/EBITDA of Petronet LNG is 6.22 while 3yr average is 6.13.
Has the share price of Petronet LNG grown faster than its competition?
Petronet LNG has given lower returns compared to its competitors. Petronet LNG has grown at ~2.77% over the last 7yrs while peers have grown at a median rate of 7.64%
Is the promoter bullish about Petronet LNG?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Petronet LNG is 50.0% and last quarter promoter holding is 50.0%.
Are mutual funds buying/selling Petronet LNG?
The mutual fund holding of Petronet LNG is decreasing. The current mutual fund holding in Petronet LNG is 11.72% while previous quarter holding is 13.09%.