Petronet LNG Ltd (PLL) is negotiating with Qatar about the possibility of receiving expected shipments of liquefied natural gas (LNG) earlier than the contractually stipulated deadline. This is due to significant supply disruptions caused by events in the Middle East, according to Akshay Kumar Singh, Managing Director and CEO of the company.
During a briefing following the release of results, Singh noted that out of approximately 75-80 LNG shipments that were supposed to arrive over an eight-month period from March to October 2026, only about six have arrived. Supplies under the current supply scheme from Qatar have been severely affected by force majeure circumstances that arose in March 2026.
Under normal conditions, the company receives about 9-10 LNG shipments from Qatar monthly, with each standard shipment containing approximately 138,000 cubic meters of LNG. Singh added that they are actively discussing with Qatar the possibility of receiving these delayed shipments earlier, but Qatar is currently awaiting normalization of the situation and cannot provide definitive promises.
Furthermore, there are about 53-54 shipments expected under the settlement agreement for the 2015-2016 period.
Previously, Petronet LNG signed a 20-year long-term LNG supply agreement with QatarEnergy, providing for the supply of 7.5 million tons per year, which will take effect in May 2028 and run until December 2048. This agreement extends the existing long-term contract concluded in 1999, which was set to expire in 2028, ensuring continuous LNG supplies from Qatar to India.
The contract includes a provision for a one-year recovery period during which delayed and force majeure-affected shipments can be supplied at the original long-term contract prices without the need for renegotiating terms. The company reported that both parties are closely monitoring developments in the Middle East, paying particular attention to shipping conditions and the situation around the Strait of Hormuz, which is a critical route for global energy supplies.
PLL's financial results for the second quarter of the 2026-27 fiscal year (FY27) showed a 54% increase in consolidated net profit compared to the previous year, reaching ₹1.235 crore from ₹802 crore the year before. However, operating revenue decreased by 34.5% compared to the previous year, amounting to ₹7,202 crore in the second quarter. The company's board of directors approved an interim dividend of ₹7 per share.
For the quarter ending September 30, the Dahej terminal processed 216 trillion British Thermal Units (BTU) of LNG, compared to 211 BTU the previous year. The total volume of LNG processed by the company in the current quarter was 231 BTU versus 228 BTU the previous year. The utilization rate of the Dahej terminal reached 73% in the current quarter, compared to 92% the previous year. At the company level, the utilization rate in the current quarter was 64%, compared to 78% the previous year.


