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Lingering risks could play spoilsport for Petronet LNG
Mint Mumbai
|January 16, 2024
Gas importer Petronet LNG Ltd has grabbed investors' attention lately with the stock rallying 17% in the past two months.
In December, it inked a pact with Gopalpur Ports Ltd to set up an liquefied natural gas (LNG) terminal in Odisha. This move marks Petronet's foray into eastern India, complementing its existing terminals in Dahej and Kochi. Also, Reuters reported that Petronet is likely to sign a deal this month to extend its long-term LNG imports from Qatar to beyond 2028. This, if it materializes, offers long-term earnings visibility and an annual escalation in re-gasification charges.
Investors are particularly hopeful about a dip in LNG spot prices and strong prospects of LNG demand in the country.
This story is from the January 16, 2024 edition of Mint Mumbai.
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