Petronet LNG inks MoU with Sri Lanka's LTL Holdings

Petronet LNG (PLL) on Tuesday announced that it has entered into a memorandum of understanding (MoU) with LTL Holdings of Sri Lanka, for supply of LNG to LTL's dual fuelled power plants in Kerawalapitiya, Colombo.

Both parties, through this MoU, have agreed for development of LNG supply chain from PLLs LNG terminal, Kochi to LTLs power plant in Kerawalapitiya, Colombo in a time bound manner.

The proposed supply of LNG from PLL's Kochi LNG Terminal would be through LNG ISO tank containers involving multi-modal transport system.

The initial term of LNG supply would be 5 years, which is extendable subject to mutual agreement.

The companys consolidated net profit jumped 39.74% to Rs 1,100.76 crore in Q1 FY25 as compared with Rs 787.73 crore reported in Q1 FY24. Revenue from operations climbed 15.09% year on year (YoY) to Rs 13,415.13 crore in the quarter ended 30 June 2024.

Petronet LNG is involved in the business of import and regasification of LNG and supply to BPCL, GAIL, IOCL and others. Presently, the company owns and operates LNG Regasification Terminals with name plate capacity of 17.5 MMTPA at Dahej.

Shares of Petronet LNG rose 0.28% to Rs 379.45 on the BSE. The counter hit an all time high of Rs 384.90 in the early trade today.

Powered by Capital Market - Live News