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Petronet LNG Limited (PLL) on Tuesday said it has entered into a one-year Master Agreement with Mahanagar Gas Limited (MGL) for the procurement of liquefied natural gas (LNG) and the sale of regasified LNG (RLNG), strengthening supply flexibility for the city gas distributor amid evolving gas market dynamics.
Under the agreement, PLL will source LNG cargoes and sell regasified LNG to MGL. The contract will remain valid for one year, with a provision for extension by mutual consent.
The arrangement aims to enable MGL to augment and optimise its gas supply portfolio, particularly by leveraging international spot LNG prices, according to a press statement.
For PLL, the agreement aligns with its strategy to maximise utilisation of its regasification infrastructure and offer integrated LNG sourcing and regasification solutions to gas consumers, including city gas distribution (CGD) companies that require storage-backed supply flexibility.
The Master Agreement was signed at day one of the India Energy Week 2026, held at the ATI ONGC campus in Goa, in the presence of Akshay Kumar Singh, Managing Director and CEO of Petronet LNG, and Ashu Singhal, Managing Director of Mahanagar Gas.
MGL is a related party of PLL, being part of the promoter group, with GAIL (India) Limited holding a 32.5 per cent equity stake in MGL.
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