Petronet LNG Limited formed on April 2, 1998 as Joint Venture Company (JVC) having 50% shareholding of leading 4 Oil & Gas PSUs by GOI order dated July 4, 1997.An Independent Board managed JVC created for development of facilities for the import, storage and regasification of Liquefied Natural Gas.With equity participation from four Oil & Gas Maharatanas viz. Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation Limited (IOCL), GAIL (Indian) Limited (GAIL) and Bharat Petroleum Corporation Limited (BPCL).Participation of Public Sector to the extent of 50%, balance 50% equity is being held by Public, FIIs, FPIs, Mutual Fund etc.Authorized Capital Rs. 3000 Crore.Paid up capital Rs.1500 Crore.Petronet LNG Ltd. has set up its first LNG Terminal at Dahej in Gujarat with the an existing capacity of 17.5 million metric tons per annum (MMTPA). Petronet operates second LNG terminal at Kochi with name plate capacity of 5 million metric tons per annum (MMPTA).