Lowest tariffs, excellent pipeline network and well-entrenched reach in domestic LNG markets to help PLNG compete with new terminals. We leave our estimates for FY21-23E unchanged. Petronet LNG (PLNG) is a play on India's rising LNG imports supported by soft spot LNG prices. We like PLNG's business model given high earnings visibility. We see limited competition to PLNG's well-entrenched reach in the LNG business. Reiterate...