New Delhi: Prabhat Kumar Singh Monday took over as the new Managing Director and CEO of Petronet LNG Ltd, India's biggest liquefied natural gas importer.
Singh, 58, was the Director of Marketing at state gas utility GAIL India Ltd before his appointment at Petronet.
In a stock exchange filing, Petronet LNG said Singh was appointed as Managing Director & CEO of the company by the Board of Directors in its meeting held on July 30.
Singh has taken over with effect from September 14, it said.
He replaced A K Balyan, who completed his five-year term on July 15. He was eligible for an extension till his superannuation age of 65 years in July 2016, but he was not given an extension.
Singh is an Engineering graduate from Indian Institute of Technology (IIT), Kanpur and has more than 35 years of experience in hydrocarbon industry, having worked in both MNC and state-owned firms.
Prior to becoming Director (Marketing) in GAIL in February 2010, he headed the Upstream Business Development and Strategy Divisions in British Gas (India).
Singh, who was selected from among over a dozen candidates will have a five year term which can be extended till he achieves the superannuation age of 65 years in November 2021.
Petronet is majority owned by state-owned oil firms GAIL, ONGC, IOC and BPCL, but is registered as a private company and the Oil Secretary is its ex-officio chairman.
Board members of the company are appointed for 5 years or until the age of 65, whichever is earlier.
