Petronet LNG Ltd was founded with the goal of developing, designing, building, owning, and operating Liquefied Natural Gas (LNG) import and regasification terminals in India. It was formed in 1998 as a joint venture involving GAIL, Indian Oil, Bharat Petroleum, and ONGC, with each holding 12.5 percent. The corporation specialises in the transportation, storage, and regasification of LNG. It owns and runs two regasification facilities in Gujarat, one in Dahej and one in Kochi, with a total capacity of 22.5 MMTPA. It accounts for 40% of the country's gas supply and handles 75% of India's LNG imports.
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Petronet LNG Limited formed on April 2, 1998 as Joint Venture Company (JVC) having 50% shareholding of leading 4 Oil & Gas PSUs by GOI order dated July 4, 1997. An Independent Board managed JVC created for development of facilities for the import, storage and regasification of Liquefied Natural Gas. With equity participation from four Oil & Gas Maharatanas viz. Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation Limited (IOCL), GAIL (India) Limited (GAIL) and Bharat Petroleum Corporation Limited (BPCL).
Petronet LNG Limited, one of the fastest growing world-class companies in the Indian energy sector, has set up the country’s first LNG receiving and regasification terminal at Dahej, Gujarat and another terminal at Kochi, Kerala. While the Dahej Terminal. Petronet LNG is at the forefront of India’s all-out national drive to ensure the country’s energy security in the years to come. Formed as a Joint Venture Company by the Government of India to import LNG and set up LNG terminals in the country, it involves India’s leading oil and natural gas industry players.
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Petronet LNG is involved in the business of import and regasification of LNG and supply to BPCL, GAIL, IOCL and others.