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Petronet LNG Limited or PETRONET

The Petronet LNG (PLL) was formed in 1998 as a Joint Venture by the Government of India with the purpose to import LNG and set up the LNG terminals in the country, and it also involves India's leading oil and natural gas industry players. Some of its promoters are GAIL (India) Limited (GAIL), and Oil & Natural Gas Corporation Limited (ONGC), and Indian Oil Corporation Limited (IOCL) and the Bharat Petroleum Corporation Limited (BPCL). Also, it is considered to be one of the leading players in the oil and natural gas industry space and has an authorized capital of about INR 1,200 crores or $240 million. It has several promoters such as GAIL (India), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL) respectively. It has entered into the sale and purchase agreement (SPA) with Ras Laffan Liquefied Natural Gas Company, Qatar for the supply of LNG to the country. It also acquires India's first and the largest LNG supply terminal which is located at the Dahej. As on, August 10, 2009, an Australian subsidiary of Exxon Mobil Corporation and Petronet LNG signed an agreement "Sales and Purchased Agreement or SPA" for the long term supply of liquefied natural gas (LNG) from the Gorgon LNG Project in the region of Western Australia. According to the SPA, there should be a supply of approximately 1.5 mtpa (million tonnes p. a.) of Exxon Mobil's share of LNG from Gorgon LNG Project for about a 20–year term. The LNG cargoes will also be delivered to a new terminal under construction at Kochi in Southern India. On May 30, 2011, Petronet LNG and Gazprom Global LNG via its Singapore affiliate named Gazprom Marketing and Trading Singapore (GM&TS) which is a 100% subsidiary of Gazprom Marketing & Trading, concluded a memorandum of understanding for the continuous long term supply of LNG. And under the terms of the agreement, the Petronet will receive up to 2.5 million tonnes per annum of the LNG from GM&TS' international supply portfolio for up to 25 years. In 2011– Petronet received approval for expanding Kochi LNG Terminal capacity up to 5mmtpa. In 2012 – Petronet LNG Ltd got Energy and Environment Excellence Award–2012 to CEO & MD. Petronet LNG Ltd got Energy and Fgi HR Award–2012 to CEO & MD.

The LNG Terminal:

  1. PLL's LNG terminals are located at Dahej in Gujarat and have a capacity of about 5 MMTPA (million metric tonnes per annum). The Ras Laffan Liquefied Natural Gas Company (RasGas) is also an LNG supplier of PPL.
  2. The company is setting up a new terminal to increase its capacity up to 10 MMTPA at Dahej.
  3. It has agreed in the Memorandum of understanding with the Gujarat Maritime Board to develop a standby berth at Dahej which will enhance the capacity of LNG terminal up to 12 MMTPA.

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