Petronet LNG planning to invest $2.6 billion over 5 years to expand local infrastructure

Petronet LNG is planning to invest $2.6 billion over five years to expand local infrastructure as investing in overseas projects is 'not lucrative' in the current liquefied natural gas (LNG) surplus market. Right now, investment in LNG terminals anywhere outside India is not very lucrative because LNG is available at very low prices it is only recently that prices have increased availability of LNG is plenty. 

Petronet LNG is one of the leading players in oil and natural gas industry space. The company's promoters are GAIL (India), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL).