Former Petronet CEO Prabhat Singh Joins Reliance-BP Joint Venture
Singh, who completed a five-term term at India's largest liquefied natural gas importer Petronet in mid-September, joined the “business leadership team” of India Gas Solutions, an employee communication by Reliance Industries executive director PMS Prasad said.
"He (Prabhat Singh) will lead and drive the IGS organisation, aimed at assured supply of natural gas to meet its energy demand of India," Prasad wrote.
Singh's exact role, designation and hierarchy in the organisation were not clear at the time of publishing.
India Gas Solutions Private Limited is a 50:50 joint venture of supermajor BP and RIL that is focused on sourcing and marketing of natural gas in India.
RIL and its partner BP did not answer emails sent for comments.
Bibhas Ganguly, an executive with RIL, is the chairman of IGS. Vinod Tahiliani, who was previously with BP, was named chief executive officer of the company in February 2018.
"As a cleaner, sustainable fuel source, the demand for natural gas is expected to grow at an exponential rate. We are confident that with his experience and abilities, Prabhat will steer IGS towards meeting this exponential demand and marketing of natural gas within the country," Prasad wrote.
Prabhat Singh was appointed Managing Director and CEO of Petronet on Sept. 14, 2015, for an initial period of five years.
Though Singh, 63, was eligible for an extension till he achieved superannuation age two years later, Petronet appointed a replacement for him.
Petronet is owned by state-owned gas utility GAIL (India) Ltd., refiners Indian Oil Corporation Ltd. and Bharat Petroleum Corp Ltd. and explorer Oil and Natural Gas Corporation. The four firms own a 12.5% stake each in the firm which is registered as a private company but is headed by the Secretary to Ministry of Petroleum and Natural Gas.
In August this year, former Indian Oil Corp. chairman Sanjiv Singh joined Reliance Industries Ltd. as a group president for the firm’s oil-to-chemicals business. Singh had retired from India’s top oil firm in June-end.