Mumbai, December 4 (Udaipur Kiran): Shares of Petronet LNG surged on the BSE on Wednesday after the company announced the execution of a 15-year binding term sheet with Oil and Natural Gas Corporation (ONGC) for Ethane Unloading, Storage and Handling (USH) services. The stock was trading at Rs 279.05, up by Rs 10.10 or 3.76 per cent from its previous close of Rs 268.95.
The scrip opened at Rs 271.15 and touched an intra-day high of Rs 279.95 and a low of Rs 271.15. A total of 3,33,378 shares were traded on the counter during the session.
The BSE Group ‘A’ stock with a face value of Rs 10 has recorded a 52-week high of Rs 349.20 on December 30, 2024, and a 52-week low of Rs 266.45 on September 26, 2025. Over the past one week, the stock moved between Rs 279.95 and Rs 268.00. The company’s current market capitalisation stands at Rs 41,880 crore.
Promoters hold 50.00 per cent stake in the company, while institutions and non-institutions hold 39.68 per cent and 10.32 per cent respectively.
Petronet LNG Ltd (PLL) and ONGC have entered into a 15-year Ethane Unloading, Storage and Handling Services Binding Term Sheet. The contract period will commence between October and December 2028 and will continue for 15 years from the start date.
Under the project, PLL is developing ethane unloading, storage and handling facilities at Dahej, Gujarat, with an ethane storage capacity of around 1,70,000 cubic metres. The company is also constructing a unique third jetty at Dahej, which will be capable of handling ethane and propane in addition to LNG.
As per the term sheet, ONGC will reserve a capacity of approximately 600 KTPA at PLL’s ethane facilities at Dahej. PLL will receive, store and handle the ethane sourced and imported by ONGC or its affiliates and redeliver it at the agreed delivery point. The binding term sheet will form the basis for definitive agreements between the two companies.
Based on the commitments under the agreement, PLL is expected to earn a gross revenue of about Rs 5,000 crore over the total contract period of 15 years. The transaction is expected to commence from FY 2028–29. The project marks a significant step in PLL’s strategy to expand beyond LNG and strengthen its presence in India’s petrochemical and energy value chain.
Petronet LNG is among the leading players in India’s natural gas sector. Its promoters include GAIL (India), ONGC, Indian Oil Corporation and Bharat Petroleum Corporation.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.