L&T shares gain on bagging Rs 15,000 crore-plus ultra-mega Middle East gas project

Shares of Larsen & Toubro Ltd (L&T) gained in Monday's trade after L&T Energy Hydrocarbon Onshore (LTEH Onshore), a subsidiary, signed a contract for undertaking a gas compression facilities project for a prestigious client in the Middle East against a letter of award issued in FY26. L&T classified the order as 'ultra-mega ', which it usually refers to a Rs 15,000 crore or above deal in value terms.

As per a BSE filing, project involves the engineering, procurement and construction (EPC) of gas compression plants, comprising gas inlet facilities, gas compression systems, condensate and produced water handling systems, propane refrigeration systems and all associated utilities. The facilities will be developed for new onshore installations to process sour gas in compliance with applicable client standards, codes and project requirements.

Following the development, the L&T stock rose 0.44 per cent to hit a high of Rs 4,106.40.

"To meet the power requirements of the gas compression plants, L&T’s Power Transmission & Distribution business will execute two 230 kV extra-high-voltage substations. Commenting on the project, E S Sathyanarayanan, Senior Vice President & Head of L&T Energy Hydrocarbon Onshore, said: “The contract marks the start of a strategically important project that will add significant gas compression capacity and utility infrastructure," L&T told BSE.

L&T said the project draws on our extensive experience in executing large and complex hydrocarbon facilities and reinforces our capability to deliver integrated solutions for challenging sour gas applications”.

"LTEH Onshore is one of India’s largest EPC businesses, delivering comprehensive Lump Sum Turnkey solutions across the upstream, midstream and downstream hydrocarbon sectors. With a strong execution track record across geographies, it has delivered refinery expansions, petrochemical complexes, gas processing plants, fertiliser plants, LNG terminals and cross-country pipelines," it said.