Petronet LNG seeks early delivery of Qatar cargoes amid Hormuz disruptions | Company News

Petronet LNG Ltd (PLL) is in discussions with Qatar to recover pending liquefied natural gas (LNG) cargoes earlier than the contractual recovery period, as disruptions in the Middle East have sharply curtailed deliveries, said Akshay Kumar Singh, managing director and chief executive officer.

Speaking at a post-results media briefing, Singh said that of the roughly 75-80 cargoes expected during the eight-month disruption period from March to October 2026, only about six cargoes had arrived. Deliveries under the current Qatar supply arrangement have been severely affected by force majeure disruptions since March 2026.

Under normal circumstances, the company receives around 9-10 LNG cargoes a month from Qatar, with each conventional cargo carrying approximately 138,000 cubic metres of LNG, he added.

“We are actively discussing with Qatar to receive these pending cargoes earlier. However, they are also waiting for the situation to normalise and cannot commit till then,” said Singh.

Around 53-54 cargoes are also pending from the 2015-16 settlement agreement period.

Petronet LNG signed a 20-year LNG supply agreement with QatarEnergy for 7.5 million tonnes per annum (mtpa), commencing in May 2028 and running until December 2048. The agreement renews an existing long-term contract signed in 1999, which was due to expire in 2028, ensuring continued LNG supplies from Qatar to India.

The contract provides for a designated one-year recovery period during which deferred and force majeure-affected cargoes can be supplied at the original long-term contractual prices, without the need for renegotiation.

The company said both sides were closely monitoring developments in the Middle East, particularly shipping conditions and the situation around the Strait of Hormuz, a critical route for global energy supplies.

Petronet LNG reported a 54 per cent year-on-year (YoY) increase in consolidated net profit to ₹1,235 crore in the second quarter of 2026-27 (FY27), from ₹802 crore a year ago.

The company’s revenue from operations fell by 34.5 per cent YoY to ₹7,202 crore in Q2. Its board of directors approved an interim dividend of ₹7 per share.

During the quarter ended September 30, the company’s Dahej terminal processed 216 trillion British thermal units (TBTU) of LNG, against 211 TBTU a year ago. The overall LNG volume processed by the company in the current quarter was 231 TBTU, against 228 TBTU a year ago.

The Dahej terminal achieved a capacity utilisation of 73 per cent in the current quarter, against 92 per cent a year ago. At the overall company level, capacity utilisation in the current quarter stood at 64 per cent, against 78 per cent a year ago.