Petronet LNG

Energy
BSE: 532522
India
Petronet LNG

 [email protected] 

As of March 9, 2021, Petronet LNG remained on the Florida SBA List of Continued Examination Companies with Petroleum Energy Activities in Iran. 

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On October 14, 2020, Petronet LNG remained on the Tennesse Department of General Services list of persons it determines engage in investment activities in Iran, as described in 12-12-105.

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As of May 28, 2020, the Florida State Board of Administration (“SBA”) continues to list Petronet LNG on its list of “Continued Examination Companies with Petroleum Energy activities in Iran.”  

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As of April 15, 2020, Petronet LNG is included on the Tennessee list of persons it determines engage in investment activities in Iran, as described in § 12-12-105.

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As of April 15, 2020, Petronet LNG is included as an entity determined to be non-responsive bidders/offerers pursuant to The New York State Iran Divestment Act of 2012.  

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As of December 31, 2019, the Alaska Retirement Management Board lists Petronas LNG as a company doing material business with Iran.

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Petronet LNG is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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Petronet LNG is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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On March 13, 2019, the Mississippi Department of Finance & Administration identified Petronet LNG as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.”  

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In 2018 and 2019 Tennessee used the New York list of “Entities determined to be non-responsive bidders/offerers pursuant to the New York State Iran Divestment Act of 2012.” Petronet was included on this list in 2018 and 2019. Tennessee states "Inclusion on this list would make a person ineligible to contract with the state of Tennessee, if a person ceases its engagement in investment activities in Iran, it may be removed from the list."

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In 2017 the U.S. state of Alaska listed Petronet  on its list of companies doing material business with Iran rendering Petronet ineligible for investment and/or state contracting.

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In 2017 the U.S. state of Florida listed Petronet on its continued examination list of companies with petroleum energy activities in Iran.

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In 2018 the U.S. state of New York listed Petronet on its list of entities determined to be engaged in prohibited activities in Iran rendering Petronet ineligible for investment and/or state contracting.

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In 2013 Petronet was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran after it was determined its involvement fell outside of three year window. 

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In 2012, Petronet was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996 and it was determined to have new involvement.
 

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Petronet's Iranian Branch - Petronet Iran 

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Petronet revised agreements in 2005 to begint he processing of Liquefied Natural Gas (LNG) from Iran.  (Company Website - Press Release, India, Iran to renegotiate LNG prices)

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“The US Government Accountability Office, in a recently released report, moved ONGC Videsh Ltd, the overseas arm of state explorer Oil and Natural Gas Corp (ONGC), and three others, including Petronet LNG, out of the list [of companies known to have energy ties with Iran]…Previously, IOC, along with OVL, ONGC, OIL and Petronet, were listed as firms that had active ties with Iran…Petronet and Hinduja Group had signed agreements with Iran in 2009 to develop one of the 28 phases of the giant South Pars gas field and convert the fuel into LNG for export at an investment of over $10 billion. The project never took off.“ (Economic Times, “US moves ONGC Videsh out of list of firms with ties to Iran,” 4/10/14) 

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"The Indian government has asked its public sector oil firms to seek legal opinion on the impact of the latest round of US sanctions on Iran on their investment in the Persian Gulf nation, Oil Secretary S Sundareshan said here. The US administration had in May named Oil and Natural Gas Corporation, ONGC Videsh Ltd, Oil India Ltd, IndianOil, Hinduja Group and Petronet LNG among the 41 firms worldwide having energy ties with Iran, an act for which it may impose sanctions on them." (Indian Express, "Oil PSUs seeking legal opinion on sanctions," 7/22/2010)