Type Public Industry Oil and gas Headquarters New Delhi | Traded as BSE: 532522 Website www.petronetlng.com Founded 1998 | |
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Key people Shri K D Tripathi (Chairman), Prabhat Singh (MD & CEO) Products Fuels, lubricants, natural gas, petrochemicals Stock price PETRONET (NSE) ₹ 403.00 -1.55 (-0.38%)29 Mar, 3:30 PM IST - Disclaimer Revenue 375.4 billion INR (2013, US$5.9 billion) Profiles | ||
Petronet lng ltd update
Petronet LNG Ltd is an Indian oil and gas company formed by the government of India to import liquefied natural gas (LNG) and set up LNG terminals in the country. It is a joint venture company promoted by the Gas Authority of India Limited (GAIL), Oil and Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOC) and Bharat Petroleum Corporation Limited (BPCL) with an authorised capital of ₹ 1200 crores (US$240 million). Each has 12.5% equity share totaling to 50%. In addition, GDF International (GDFI), a wholly owned subsidiary of ENGIE, holds 10%. The balance of the equity, 40%, is held by the public.
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The company selected Gaz de France as its strategic partner. The company has also signed an LNG sale and purchase agreements with Ras Laffan Liquefied Natural Gas Company Ltd, Qatar for the supply of 8.5 MTPA LNG to India.
Petronet LNG Ltd has set up its first LNG terminal at Dahej in Gujarat with the capacity of 10 million metric tons per year. Capacity of Dahej Terminal will expand to 15 million tons per year till end of 2016. Another terminal with capacity 5 million tons per year is commissioned in Kochi (Kerala) and started its operations in August 2013. Petronet LNG is planning to set up its third LNG terminal with capacity 5 million tons per year probably in Andhra Pradesh. It is expected that by 2016 Petronet LNG's total operating capacity will be 25 million tonnes per annum.