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Petronet LNG

Petronet LNG

Industry: 
Energy
Country: 
India
Contact Information: 
Sources: 

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)

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