Petronet LNG Limited has informed the Exchange regarding a press release dated December 03, 2025, titled "Oil and Natural Gas Corporation (ONGC) Limited and Petronet LNG Limited (PLL) execute 15-Years Ethane Unloading, Storage and Handling (USH) Services Binding Term Sheet".
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Petronet LNG has signed a binding term sheet with ONGC for a 15-year Ethane Unloading, Storage and Handling (USH) services agreement. Under this deal, Petronet LNG will provide ethane handling services at its terminal facility, leveraging its existing LNG infrastructure. The long-term nature of the contract (15 years) provides revenue visibility and stable cash flows. Ethane is a key feedstock for petrochemical production, and this tie-up with ONGC, a marquee state-run energy major, validates Petronet's terminal infrastructure capabilities beyond LNG.
Positive for shareholders — the long-term binding agreement with a strong counterparty like ONGC strengthens Petronet's revenue base and diversifies terminal usage into ethane handling, potentially supporting valuation re-rating.