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Petronet LNG Ltd Commissioned Expansion Of Dahej LNG Terminal To 22.5 MMTPA
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
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
India may review fuel exports to protect domestic supply
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)
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)
Mounting gas shortages disrupt some steel plants at India's JSW, one unit may face shutdown
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)
((neha.dasgupta@tr.com; 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)
((neha.dasgupta@tr.com; X: neha_5;))
India to boost coal use for summer power as Mideast crisis hits LNG supplies
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)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))
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)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))
India's GAIL weighs supply cuts to gas customers after Petronet LNG force majeure
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)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
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)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
Indian gas firms restrict local supplies due to Middle East crisis
Recasts, adds details from sources
Middle East conflict disrupts India's LNG supply from Qatar
Force majeure declared by Indian gas firms, affecting fertiliser production
No gas supply cuts announced for households or automobile sector
By Nidhi Verma
NEW DELHI, March 4 (Reuters) - Several Indian companies have restricted the domestic supply of natural gas, including to the important fertiliser sector, under a force majeure clause due to an escalating conflict in the Middle East, gas importers and sources said on Wednesday.
The U.S and Israel's air war on Iran has disrupted fuel shipments in the region, affecting India's key supplier of liquefied natural gas, Qatar.
Sources familiar with the matter said lower gas supplies had already marginally hit production of some fertiliser companies including the Indian Farmers Fertiliser Cooperative Ltd and Kribhco Fertilizers Ltd.
The two companies did not respond to Reuters' request for comment outside normal working hours.
Gujarat Gas Ltd, which supplies gas for domestic and industrial clients, said in a stock exchange filing that it had declared a force majeure to restrict gas supplies to industries from Thursday. Its parent company, GSPC, gets most of the gas from Qatar and Abu Dhabi National Oil Co for sale to local customers.
India's top gas importer Petronet LNG Ltd PLNG.NS issued a force majeure notice to its supplier, QatarEnergy, and to local buyers GAIL (India) Ltd GAIL.NS, Indian Oil Corp IOC.NS, and Bharat Petroleum Corp BPCL.NS, after its three LNG tankers were unable to reach the Ras Laffan loading port, it said in an exchange filing.
GAIL and IOC have already reduced gas supplies to industries, Reuters reported on Tuesday.
QatarEnergy has also issued a notice to Petronet "indicating a potential event of force majeure" due to the hostilities in the region, the Indian company said.
So far the companies have not announced any cuts in gas supplies for households or the automobile sector.
India imported 27 million tonnes of LNG in 2024/25, about half of its overall gas consumption, according to the government data. The bulk of the LNG is imported from Qatar.
As a result of the attacks on Iran and Tehran's retaliatory strikes, 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.
(Reporting by Nidhi Verma; Editing by Nivedita Bhattacharjee and Andrei Khalip)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
Recasts, adds details from sources
Middle East conflict disrupts India's LNG supply from Qatar
Force majeure declared by Indian gas firms, affecting fertiliser production
No gas supply cuts announced for households or automobile sector
By Nidhi Verma
NEW DELHI, March 4 (Reuters) - Several Indian companies have restricted the domestic supply of natural gas, including to the important fertiliser sector, under a force majeure clause due to an escalating conflict in the Middle East, gas importers and sources said on Wednesday.
The U.S and Israel's air war on Iran has disrupted fuel shipments in the region, affecting India's key supplier of liquefied natural gas, Qatar.
Sources familiar with the matter said lower gas supplies had already marginally hit production of some fertiliser companies including the Indian Farmers Fertiliser Cooperative Ltd and Kribhco Fertilizers Ltd.
The two companies did not respond to Reuters' request for comment outside normal working hours.
Gujarat Gas Ltd, which supplies gas for domestic and industrial clients, said in a stock exchange filing that it had declared a force majeure to restrict gas supplies to industries from Thursday. Its parent company, GSPC, gets most of the gas from Qatar and Abu Dhabi National Oil Co for sale to local customers.
India's top gas importer Petronet LNG Ltd PLNG.NS issued a force majeure notice to its supplier, QatarEnergy, and to local buyers GAIL (India) Ltd GAIL.NS, Indian Oil Corp IOC.NS, and Bharat Petroleum Corp BPCL.NS, after its three LNG tankers were unable to reach the Ras Laffan loading port, it said in an exchange filing.
GAIL and IOC have already reduced gas supplies to industries, Reuters reported on Tuesday.
QatarEnergy has also issued a notice to Petronet "indicating a potential event of force majeure" due to the hostilities in the region, the Indian company said.
So far the companies have not announced any cuts in gas supplies for households or the automobile sector.
India imported 27 million tonnes of LNG in 2024/25, about half of its overall gas consumption, according to the government data. The bulk of the LNG is imported from Qatar.
As a result of the attacks on Iran and Tehran's retaliatory strikes, 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.
(Reporting by Nidhi Verma; Editing by Nivedita Bhattacharjee and Andrei Khalip)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
Asia scrambles for LNG as Qatar halts output due to Iran war
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)
((sudarshan.varadhan@thomsonreuters.com; +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)
((sudarshan.varadhan@thomsonreuters.com; +65 91164984;))
India Petronet LNG Exec Says Hopes To Commission Dahej Terminal At Expanded Capacity By End-March
Feb 12 (Reuters) - Petronet LNG Ltd PLNG.NS:
INDIA PETRONET LNG EXEC SAYS HOPES TO COMMISSION DAHEJ TERMINAL AT EXPANDED CAPACITY BY END-MARCH
INDIA PETRONET LNG EXEC SAYS EXPLORING LONG-TERM LNG IMPORT DEALS
Further company coverage: PLNG.NS
Feb 12 (Reuters) - Petronet LNG Ltd PLNG.NS:
INDIA PETRONET LNG EXEC SAYS HOPES TO COMMISSION DAHEJ TERMINAL AT EXPANDED CAPACITY BY END-MARCH
INDIA PETRONET LNG EXEC SAYS EXPLORING LONG-TERM LNG IMPORT DEALS
Further company coverage: PLNG.NS
Rising oil, gas and LNG demand draws global traders to India
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)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_; Nidhi.Verma@thomsonreuters.com))
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)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_; Nidhi.Verma@thomsonreuters.com))
Rising oil, gas and LNG demand draws global traders to India
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)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_; Nidhi.Verma@thomsonreuters.com))
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)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_; Nidhi.Verma@thomsonreuters.com))
India's Petronet LNG sees 2026 imports at 28 mln-29 mln tons
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)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
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)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
India's Petronet LNG rises after J.P. Morgan upgrades rating on earnings outlook
** 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)
((Brijesh.Patel1@thomsonreuters.com; 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)
((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))
Petronet LNG Says Pankaj Jain Ceased To Be Chairman
Jan 2 (Reuters) - Petronet LNG Ltd PLNG.NS:
PANKAJ JAIN CEASED TO BE CHAIRMAN
Source text: ID:nNSEc3k0Sg
Further company coverage: PLNG.NS
Jan 2 (Reuters) - Petronet LNG Ltd PLNG.NS:
PANKAJ JAIN CEASED TO BE CHAIRMAN
Source text: ID:nNSEc3k0Sg
Further company coverage: PLNG.NS
India's Petronet LNG rises after inking deal with ONGC
** 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)
((Brijesh.Patel1@thomsonreuters.com; 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)
((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))
Sri Lanka says no immediate LNG imports from India as infrastructure lags
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)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
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)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
India's top gas importer Petronet seeks 120 billion rupee loan
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)
((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters Messaging: nidhi.verma.thomsonreuters.com@reuters.net))
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)
((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters Messaging: nidhi.verma.thomsonreuters.com@reuters.net))
Petronet LNG June-Quarter Consol PAT 8.24 Billion Rupees
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
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
India's Petronet LNG rises after Motilal Oswal upgrades to 'buy'
** 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)
** 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)
India's Petronet slips on Q4 results; analysts flag weak volumes, low returns
** 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)
Petronet LNG Exec Says Indian Markets Want LNG Prices At Below $10/MMBTU
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
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
Petronet LNG Says Saurav Mitra Joins Petronet LNG As Director (Finance) & CFO
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
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
Petronet LNG Says Vinod Kumar Mishra Ceases To Be CFO
April 18 (Reuters) - Petronet LNG Ltd PLNG.NS:
VINOD KUMAR MISHRA CEASES TO BE CFO
Source text: ID:nBSEc9Zh73
Further company coverage: PLNG.NS
April 18 (Reuters) - Petronet LNG Ltd PLNG.NS:
VINOD KUMAR MISHRA CEASES TO BE CFO
Source text: ID:nBSEc9Zh73
Further company coverage: PLNG.NS
Petronet LNG Ltd Appoints Saurav Mitra As Director (Finance) & CFO
April 16 (Reuters) - Petronet LNG Ltd PLNG.NS:
APPOINTS SAURAV MITRA AS DIRECTOR (FINANCE) & CFO
Source text: ID:nBSE8z7btX
Further company coverage: PLNG.NS
April 16 (Reuters) - Petronet LNG Ltd PLNG.NS:
APPOINTS SAURAV MITRA AS DIRECTOR (FINANCE) & CFO
Source text: ID:nBSE8z7btX
Further company coverage: PLNG.NS
India's Petronet LNG rises after pact for LNG terminal
** 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)
** 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)
India to remain bright spot for petchem demand in 2025
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)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))
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)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))
India's Petronet plans to trade LNG via Singapore unit
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)
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)
Petronet LNG Executes Agreements With Deepak Phenolics For Propylene And Hydrogen
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
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
Petronet LNG Dec-Quarter Consol PAT 8.67 Bln Rupees
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
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
Rise in US LNG production to benefit India, CEO of Petronet LNG says
By Sethuraman N R
Jan 27 (Reuters) - An increase in LNG production in the United States after President Donald Trump ended a moratorium on new export permits should benefit consuming nations like India, the chief executive of the country's top gas importer said on Monday.
Trump last week ordered the U.S. Energy Department to resume the consideration of LNG export applications after the Biden administration froze them.
"If more LNG plants come in the U.S., it will stabilise international LNG prices," Petronet LNG Chief Executive Akshay Kumar Singh said in a post earnings media call.
"For a consuming nation (like India), it is expected that if prices are in the range of $7 to $8 per million British thermal units (mmBtu), the consumption will drastically improve because there is no shortage of customers, they are just price sensitive," Singh said.
Singh expects LNG prices to hover around $12-$14 per mmBtu in the current quarter on strong demand from Europe.
European gas reserves are some 17 billion cubic metres (bcm) lower than at the same time in 2024, according to ICIS analyst Alex Froley.
The additional volumes required to refill them could also keep prices elevated in the second quarter of the year, Singh said.
He also said Petronet is working to start supplies of LNG to neighbouring Sri Lanka, after signing a deal to supply LNG engineering firm LTL Holdings' power plants in Colombo for five years through a terminal in the southern Indian city of Kochi.
(Reporting by Sethuraman NR; Editing by Kirsten Donovan)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
By Sethuraman N R
Jan 27 (Reuters) - An increase in LNG production in the United States after President Donald Trump ended a moratorium on new export permits should benefit consuming nations like India, the chief executive of the country's top gas importer said on Monday.
Trump last week ordered the U.S. Energy Department to resume the consideration of LNG export applications after the Biden administration froze them.
"If more LNG plants come in the U.S., it will stabilise international LNG prices," Petronet LNG Chief Executive Akshay Kumar Singh said in a post earnings media call.
"For a consuming nation (like India), it is expected that if prices are in the range of $7 to $8 per million British thermal units (mmBtu), the consumption will drastically improve because there is no shortage of customers, they are just price sensitive," Singh said.
Singh expects LNG prices to hover around $12-$14 per mmBtu in the current quarter on strong demand from Europe.
European gas reserves are some 17 billion cubic metres (bcm) lower than at the same time in 2024, according to ICIS analyst Alex Froley.
The additional volumes required to refill them could also keep prices elevated in the second quarter of the year, Singh said.
He also said Petronet is working to start supplies of LNG to neighbouring Sri Lanka, after signing a deal to supply LNG engineering firm LTL Holdings' power plants in Colombo for five years through a terminal in the southern Indian city of Kochi.
(Reporting by Sethuraman NR; Editing by Kirsten Donovan)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
Petronet LNG Says Regulating LNG Terminals Would Require Amendment In PNGRB Act
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
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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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 Guj. State Petronet, Confidence Petroleum, GAIL India, ONGC, Gujarat Gas, Indraprastha Gas, Adani Total Gas. Market Cap of Petronet LNG is ₹38,198 Crs. While the median market cap of its peers are ₹21,010 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 ₹3,539 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 -₹11,376.89 Crs as of Sep-25. This is greater than Mar-25 when it was -₹17,728.65 Crs.
Is Petronet LNG stock expensive?
Petronet LNG is not expensive. Latest PE of Petronet LNG is 10.5, while 3 year average PE is 10.95. Also latest EV/EBITDA of Petronet LNG is 5.38 while 3yr average is 6.15.
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 ~2.91% over the last 7yrs while peers have grown at a median rate of 7.82%
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 increasing. The current mutual fund holding in Petronet LNG is 13.09% while previous quarter holding is 11.0%.