ONGC and Petronet fortfying India’s LNG value chain

January 28, 2026, by Melisa Cavcic

India’s state-owned energy giant Oil and Natural Gas Limited (ONGC) has pooled resources with Petronet LNG Limited (PLL) to strengthen the country’s liquefied natural gas (LNG) value chain.

ONGC signed a master regasification agreement (MRA) with Petronet LNG to enable spot LNG cargo unloading and regasification at the Dahej terminal on January 27, 2026.

The state-owned firm explained: “The agreement enhances flexibility in spot LNG sourcing and domestic marketing, supporting the timely availability of natural gas for consumers across the country.

“Through such strategic collaborations, ONGC continues to strengthen its integrated gas strategy, ensuring a reliable, competitive, and resilient energy supply for India.”

The MRA will remain valid for a period of five years, with a provision for further extension. The agreement is expected to facilitate efficient regasification services, improve supply reliability, and contribute to the development of a resilient and future-ready gas value chain.

Petronet LNG to set up LNG terminal on east coast of India

Business Developments & Projects

This comes after Petronet LNG inked a memorandum of understanding (MoU) with Indian Oil Corporation Limited (IOCL) to strategically collaborate on the development of 25 compressed bio-gas (CBG) plants nationwide.

The MoU was signed in the presence of Shri Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, Shri Akshay Kumar Singh, Managing Director & CEO at PLL, and Shri Arvinder Singh Sahney, Chairman at Indian Oil Corporation.

Petronet LNG emphasized: “This initiative aims to accelerate India’s transition to sustainable energy. Under the agreement, IOCL will provide comprehensive engineering, procurement, and construction management (EPCM) services, while PLL will spearhead project delivery by securing land, statutory clearances, and managing feedstock and offtake arrangements.

“This partnership leverages Indian Oil Corp Limited’s deep technical expertise and PLL’s infrastructure leadership to establish a robust model for the CBG sector, providing a scalable framework to support India’s green energy and net-zero goals.”

ONGC has struck several new deals, including a charter agreement with Mitsui O.S.K. Lines (MOL), which allows Samsung Heavy Industries (SHI) to construct two very large ethane carriers (VLECs).