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    Petronet LNG CEO Under Corruption Scanner

Summary

The company is India’s biggest LNG importer and operates two import and regasification terminals.

by: Shardul Sharma

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Natural Gas & LNG News, Asia/Oceania, Liquified Natural Gas (LNG), Corporate, Corporate governance, Import/Export, Political, Ministries, News By Country, India

Petronet LNG CEO Under Corruption Scanner

India’s petroleum and natural gas ministry has received several corruption allegations against the CEO and other officials of Petronet LNG (PLL), petroleum and natural gas minister Dharmendra Pradhan said March 23 in a written reply to a question in Lok Sabha, the lower house of the Indian parliament.

"Several complaints have been received in the ministry of petroleum and natural Gas against MD and CEO, PLL and other officers of PLL regarding alleged corruption/irregularities which were forwarded to chairperson, audit committee, PLL for taking appropriate action," Pradhan said without disclosing the nature of allegations.

Prabhat Singh has led Petronet LNG, since September 2015. The company is India’s biggest LNG importer and operates two import and regasification terminals.

Four state-run companies – Bharat Petroleum Corp, Gail, Indian Oil Corp and ONGC – hold 12.5% each in Petronet LNG while the other half is held by the public and institutions. Last year it signed a provisional agreement to buy a stake in Driftwood LNG, the US Permian gas-LNG project operated by Tellurian, but it has not taken this further and made a firm commitment.