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Petronet not in the favour of $2.5-bn US LNG deal
Sept. 24, 2019

Petronet not in the favour of $2.5-bn US LNG deal

Petronet's board disapproved $2.5-bn US LNG deal in April-May, revealed the board post a formal agreement between India and US. This decision was taken looking at the changing global gas market dynamics. According to the officials, currently, the deal with Tellurian is "far from closed and will require negotiations". The word in the market is that the deal will only go through if the government would push for it.

Petronet LNG signs MoU with Tellurian
Sept. 23, 2019
Source: Business Today

Petronet LNG signs MoU with Tellurian

Indian LNG importer, Petronet has agreed to invest $2.5 billion in US LNG developer Tellurian Inc. Hailed as one of the largest overseas investments in the United States to ship shale gas abroad, the agreement will enable Petronet to import up to 5 mtpa of LNG every year from Driftwood. The agreement was inked in the presence of Prime Minister Modi, who is on a week-long visit to the States.

Petronet LNG registers lower profits for 4Q2019
May 17, 2019
Source: The Hindu

Petronet LNG registers lower profits for 4Q2019

The Indian energy firm, Petronet LNG has reported a 15.87% fall in profits for 4Q2019, from the corresponding quarter in the previous year. Petronet LNG registered a ₹440-crore in profits in the last quarter of the financial year 2018-2019. The company has attributed lower profits to the inventory loss of ₹119 crore. The company will distribute a 45% dividend to shareholders.

ONGC Videsh and Petronet set eyes on Tellurian project
Nov. 3, 2018

ONGC Videsh and Petronet set eyes on Tellurian project

India’s ONGC Videsh and Petronet LNG are jointly taking a move to buy stakes in Driftwood project in Louisiana proposed by Tellurian Inc's. The MD of Petronet said “We have moved slightly forward... we are evaluating it seriously and we are in serious discussion with them,” The two companies are jointly initiating this talk in order to grow India's pipeline network and increase the use of cleaner fuel.

Petronet proposes LNG terminal in Bangladesh
July 28, 2018
Source: Money Control

Petronet proposes LNG terminal in Bangladesh

India's biggest LNG importer, Petronet LNG Ltd has submitted a proposal to the Bangladesh government, with techno-economic details, for the installation of an LNG import facility in the country. The investment in the project has been projected to be $1 billion. Gas demand in Bangladesh has been estimated to more than double to 45 million tonnes in the coming 20 years.

First Russian LNG cargo ships to India
June 4, 2018

First Russian LNG cargo ships to India

The first ever cargo of Russian LNG is on its way to India and will reach the Petronet terminal today. The import comes in line with GAIL’s renegotiation with Gazprom about the terms of the 20-year deal to import 2.5 million tonnes a year of LNG. India received its first cargo of US LNG a few weeks back. The price indexation has been changed from the Japan customs-cleared crude to Brent.

Petronet LNG and OVL together to pick stake in Qatar project
April 11, 2018
Source: Economic Times

Petronet LNG and OVL together to pick stake in Qatar project

Petronet wants to collaborate with the overseas wing of India’s biggest explorer, ONGC Videsh Ltd., to pick up a stake in an upcoming exploration and liquefied natural gas (LNG) project in Qatar, as revealed by a top company official. It will be a maiden venture of Petronet in LNG E&P business and overseas LNG terminals.

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