I am a bit surprised Petronet LNG’s stock price is still muted given that it’s been a while since LNG prices came off, and they have stayed low. Currently LNG prices are at less than $10 mmbtu as per this article.
In addition, South Asian buyers have increased their offtake, and I assume, Petronet must be one of those. End-use industry demand should be quite robust at these prices and should help increase the utilization of their terminals after a difficult FY23. Dahej, in particular, should see much better demand. Kochi terminal utilization is still poor, but nevertheless, I would expect better results in Q1 and possibly, going forward as well.
Any thoughts on why the stock price continues to be depressed?
Disclosure: Hold it, and have added a bit recently.
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