Petronet LNG (PLL) and Mahanagar Gas Limited (MGL) on Wednesday said they have entered a Master Agreement under which PLL will procure LNG cargoes and supply RLNG to MGL. The agreement takes effect from 27 January 2026 and will remain valid for one year, with the option to extend based on mutual consent.

They stated that the agreement offers operational and supply flexibility to MGL for augmentation and optimisation of its gas supply portfolio based on international spot prices. The proposed execution of the agreement is aligned with PLL’s objective of optimal utilisation of its regasification infrastructure and the provision of integrated LNG sourcing and regasification services to gas consumers, including City Gas Distribution (CGD) entities with adequate storage and flexibility.

The Master Agreement was signed on 27 January 2026 in the presence of Akshay Kumar Singh, Managing Director & CEO, PLL and Shri Ashu Singhal, Managing Director, MGL at India Energy Week 2026 being held at ATI ONGC, Goa.

MGL is a related party of PLL. It is a promoter group company as GAIL holds 32.5% equity stake in MGL. This transaction is being done on arm’s length.