MUMBAI (Commodity Online): Importer of liquefied natural gas, Petronet LNG Ltd (BOM:532522) gained on the bourse today as the government is looking to exempt Natural Gas from import duties.

Petronet LNG jumped over 4% on the Bombay Stock Exchange (BSE) today to Rs.78.35 up by close to 4.5%. Meanwhile, the BSE Sensex was almost flat at 16,978 points. The stock hit a high of Rs.79.15 and a low of Rs.75.35 so far during the day.

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The mid-cap liquefied natural gas (LNG) distributer has an equity capital of Rs 750 crore. Face value per share is Rs 10. Petronet LNG's net profit fell 20.8% to Rs 83.21 crore on a 9.2% fall in sales to Rs 2244.59 crore in Q3 December 2009 over Q3 December 2008.

A removal of the import levy will help boost the company's profit. Petronet LNG imports, stores and regassifies LNG and sells it.
The company’s promoters include GAIL (India) Ltd (GAIL), Oil & Natural Gas Corporation Ltd (ONGC), Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Ltd (BPCL). GAZ de France, a French national gas company, is Petronet LNG Ltd’s partner.

Petronet LNG Ltd. has setup an LNG Terminal at Dahej in Gujarat with the capacity of five million metric tons per annum (MMTPA), and is in the process of building another terminal at Kochi, Kerala, with the capacity of 2.5 MMTPA.

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