Petronet LNG names Prabhat Singh as new CEO

Petronet LNG of India said on Thursday it has appointed Prabhat Singh as the new MD & CEO of the company for a period of 5 years.

Singh is currently the Director (Marketing) of GAIL. He succeeds AK Balyan, who recently completed his 5-year term at Petronet and joined the Anil Ambani group.

India’s largest importer said that the company’s Dahej terminal has operated at around 98% of its nameplate capacity in the second quarter ended June 30.

Despite a reduction in the offtake under the long term quantities by about 30% over the corresponding quarter last year, the total volume regasified at the Dahej terminal during the first quarter of FY 2015-16 was 125.41 TBTUs, Petronet informed in its quarterly results report.

Kochi terminal, however, handled only 6.11 TBTUs of LNG including the Reload Sales and primarily served two consumers in the vicinity of the terminal – the BPCL refinery and FACT. The total volume processed i.e. 131.52 TBTUs compares with a volume of 102.53 TBTUs in the previous quarter and 138.67 TBTUs in the corresponding quarter of the last year.

The work for expansion of Dahej LNG terminal from 10 MMTPA to 15 MMTPA is going on as per schedule and it is expected that this capacity expansion will be completed by end of the year 2016, the company added.