PETRONET

Petronet LNG Limited formed on April 2, 1998 as Joint Venture Company (JVC) having 50% shareholding of leading 4 Oil & Gas PSUs by GOI order dated July 4, 1997. An Independent Board managed JVC created for development of facilities for the import, storage and regasification of Liquefied Natural Gas. With equity participation from four Oil & Gas Maharatanas viz. Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation Limited (IOCL), GAIL (India) Limited (GAIL) and Bharat Petroleum Corporation Limited (BPCL).

Petronet LNG Limited, one of the fastest growing world-class companies in the Indian energy sector, has set up the country’s first LNG receiving and regasification terminal at Dahej, Gujarat and another terminal at Kochi, Kerala. While the Dahej Terminal. Petronet LNG is at the forefront of India’s all-out national drive to ensure the country’s energy security in the years to come. Formed as a Joint Venture Company by the Government of India to import LNG and set up LNG terminals in the country, it involves India’s leading oil and natural gas industry players.

Business area of the company:

Petronet LNG is involved in the business of import and regasification of LNG and supply to BPCL, GAIL, IOCL and others.

Milestones:

• 1998: Formed to import LNG and setup LNG terminals.
  
• 1999: LNG SPA with RasGas of Qatar
  
• 2000: Dehaj terminal construction started
  
• 2001: Shipping agreements Disha & Raahi
  
• 2003: Gas sales agreements with GAIL, IOCL, BPCL.
  
• 2004: IPO launched at price rate of Rs 15 for tying up 35% of the share capital.
  
• 2004: PLL commences supplying regasified LNG.
  
• 2007: 24 spot LNG cargoes to revive Dabhol power plant/MOU with GMB for second jetty.
  
• 2009: Dahej expansion to 10 MMTPA/SPA with Exxon mobile for supplies from Australia.
  
• 2010: Gas sales agreements with GAIL, IOCL, BPCL for Kochi
  
• 2012: Regas agreement with GAIL for Dehaj expansion.
  
• 2013: Kochi terminal commissioned/ 1000th cargo in Dehaj terminal.
  
• 2013: Shipping agreement with Prachi/ Regas agreement with GSPC and BPCL for Dehaj expansion.
  
• 2014: EPC contract for Dehaj expansion/ Regas agreement with IOC for Dehaj expansion.
  
• 2016: Dehaj terminal expanded to 15 MTPA.
  
• 2017: Loaded 500th load at Qatar in a record time of 13 years.
  
• 2019: Dehaj expansion from 15 to 17.5 MTPA.
  
• 2020: Petronet LNG signs supplementary MoU with Tellurian.