Petronet LNG Signs ₹12-Billion Regasification Deal With Deepak Fertilisers Arm

Petronet LNG Ltd. on Thursday said it has signed a five-and-a-half-year contract with Performance Chemiserve Ltd., a subsidiary of Deepak Fertilisers and Petrochemicals Corp. Ltd., for regasifying liquefied natural gas imported by the latter.

The deal is expected to generate revenue of about ₹12 billion for Petronet LNG, with a potential upside of up to 20% over the contract period, the company said in an exchange filing.

Under the agreement, Petronet LNG will receive, store, and regasify around 25.6 trillion British thermal units of LNG annually—starting 2026—at its Dahej terminal, following a ramp-up phase. Deepak Fertilisers has already secured LNG supply through a sale and purchase deal with Norway’s Equinor. The imported gas will be used in Deepak Fertilisers' Taloja manufacturing units beginning May–July 2026.

In 2024-25, Petronet LNG processed around 18 million tonnes of LNG through its Dahej and Kochi terminals. The company controls 43% of India's LNG regasification capacity and handles about two-thirds of the country's LNG imports.