A five-year Master Regasification Agreement (MRA) with Oil and Natural Gas Corporation (ONGC) and a one-year Master Agreement with Mahanagar Gas Limited (MGL) for the sale of regasified LNG (RLNG) are two significant agreements that Petronet LNG Limited (PLL) announced on Tuesday with the goal of bolstering India’s natural gas supply chain. At its Dahej port in Gujarat, PLL will receive, store, and regasify LNG in accordance with the agreement with ONGC. The MRA will be in effect for five years, with the possibility of an extension upon mutual agreement.
The agreement will boost ONGC’s plan to supplement domestic gas production with LNG-based supplies in response to growing demand across sectors by allowing it to import LNG and market RLNG to meet downstream users’ needs.
In the presence of Arunangshu Sarkar, Director (Strategy & Corporate Affairs) of ONGC, and Akshay Kumar Singh, Managing Director & CEO of PLL, the agreement was signed on January 27, 2026, during India Energy Week 2026 in Goa.
PLL’s promoter and connected party, ONGC, is represented on the board of the business. PLL clarified that an arm’s-length transaction was carried out.
Additionally, on January 27, 2026, PLL and Mahanagar Gas Limited (MGL) signed a one-year Master Agreement whereby PLL will purchase LNG cargoes and provide MGL with RLNG. An extension by mutual consent is covered by the agreement.
MGL can optimise its gas sourcing based on global spot prices thanks to the agreement, which gives it operational and supply flexibility. The arrangement allows PLL to make the best use of its regasification infrastructure while providing city gas distribution (CGD) businesses with more integrated LNG sourcing services.
Ashu Singhal, Managing Director of MGL, and Akshay Kumar Singh, MD & CEO of PLL, were present when the deal was inked during India Energy Week 2026 in Goa. Through promoter group connections, MGL is a related party of PLL, and the transaction was carried out at arm’s length.
