Citi Warns Petronet LNG Faces Regulatory Risk; "Sell" Rating Maintained

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CNBC TV18•06-01-2026, 13:34

Citi Warns Petronet LNG Faces Regulatory Risk; "Sell" Rating Maintained

•Citi issued a "sell" rating on Petronet LNG, citing potential regulatory risks and a price target of ₹260, implying a 10% downside.
•The Petroleum and Natural Gas Regulatory Board (PNGRB) analyzed gas value chain costs and recommended regulating regasification tariffs.
•PNGRB's stance suggests regasification terminals should be under regulatory framework, impacting tariffs.
•This could lead to renegotiation risks for Dahej regas tariffs, especially for the recently renewed Qatar contract.
•Despite the warning, Petronet LNG shares were up 1.8% on Tuesday, though down 11.6% over the past year.

Why It Matters: Petronet LNG faces regulatory challenges from PNGRB's push to regulate regas tariffs, prompting a "sell" rating from Citi.

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