Spot vs Term Volume Allocation Volatility
Lower term volumes and higher third-party regas services this quarter reflect scheduling flexibility rather than pricing-driven shifts. This creates earnings unpredictability as spot volumes are lumpy.
PETRONET / Q2-FY26 / risks
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Petronet LNG · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Dahej Expansion Slippage Risk
Project has already slipped from initial March 2025 target to March 2026. Management indicates some packages still pending award, creating risk of further delay into FY27.
Gopalpur EC Clearance Uncertainty
Environmental clearance pending since conversion from FSRU to land-based terminal. Management cannot control authority timelines despite having submitted all required information.
Forex Volatility on Leased Vessels
84 crore notional forex loss recorded due to USD/INR movement on Qatar vessel lease liabilities (~USD 300 million). Management states this passes through to offtakers, but quarterly earnings volatility persists.