Petronet LNG Ltd witnessed a robust surge of nearly 3% in its shares following the company’s successful bid to secure a contract from Gopalpur Ports. The agreement, formalized on December 27, 2023, encompasses binding Transaction Documents, including the Sub-Concession Agreement, Sub-Lease Deed, and Port Service Agreement with Gopalpur Ports Limited.
The deal paves the way for the establishment of a Floating Storage Regasification Unit (FSRU)-based LNG terminal with an initial capacity of approximately 4 MMTPA in Phase-1. Additionally, the arrangement includes provisions for converting it into a 5 MMTPA land-based terminal at Gopalpur Port, situated in the Ganjam district of Odisha.
Petronet LNG Ltd is currently in the process of realizing its inaugural LNG terminal on the east coast of India at Gopalpur, Ganjam, Odisha. The successful implementation of this project is poised to significantly augment the country’s overall regasification capacity, contributing to the advancement of a gas-based economy.
As of 12:26 pm, the shares of Petronet LNG Ltd exhibited a noteworthy surge, trading 2.77% higher at ₹222.30.
