The Oil and Gas company specializing in LNG transportation and regasification reached a 52-week high of Rs.384.9 per share after signing an MoU with LTL Holdings to supply LNG (Liquefied Natural Gas) to power plants in Sri Lanka.
Share Price Variation
The share price of Petronet LNG Limited reached a 52-week high of Rs.384.9 per share, in Wednesday’s trading session, from its previous close of Rs.378.4 apiece, gaining around 1.8 percent in the session.
What is the news
Petronet LNG Limited and LTL Holdings Limited signed a Memorandum of Understanding (MoU) on August 20, 2024, to supply LNG from Petronet’s Kochi terminal to LTL’s dual-fuelled Power Plant(s) in Kerawalapitiya, Colombo.
The LNG from PLL’s Kochi Terminal will be supplied using specialized ISO tank containers and a multi-modal transport system. The initial term is 5 years, with an option to extend.
This partnership enhances energy cooperation between India and Sri Lanka, ensuring a reliable LNG supply for Sri Lankan power facilities and reflecting Petronet LNG’s dedication to expanding its international supply network and supporting regional energy security and sustainability.
Capacity at LNG Terminals
The company has two regasification terminals, one at Dahej, Gujarat with a capacity of 17.5 MMTPA (Million Metric Tonnes per Annum), and the other at Kochi, Kerala with a capacity of 5 MMTPA. Dahej terminal operated at 109 percent utilization while Kochi terminal operated at 25 percent till Q1 FY25, expecting to expand further by the end of the financial year 2025.
The company is developing an LNG terminal in Gopalpur, Odisha, with an initial capacity of 4 MMTPA, at an estimated cost of around Rs.2,300 crore.
Revenue Mix
Petronet LNG Limited operates in the areas of LNG transportation, storage, and regasification. The majority of its revenue, accounting for 95 percent, comes from LNG transportation and storage, while regasification contributes the remaining 5 percent.
Shareholding Pattern
Petronet LNG Limited is a joint venture involving GAIL, Indian Oil, Bharat Petroleum, and ONGC, each holding a 12.5 percent stake, collectively amounting to 50 percent of the promoter’s share.
Foreign Institutional Investors (FII) hold 25.58 percent, Domestic Institutional Investors (DII) have 12.86 percent, and Retail investors possess an 11.56 percent stake in the company.
About the company
Petronet LNG Limited is an Indian oil and gas company formed by the Government of India to import liquefied natural gas (LNG) and set up LNG terminals in the country.
Written by – Siddesh S Raskar
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