AsiaCorporate

India’s Petronet LNG extends CFO’s term

By LNG Prime Staff
India's Petronet LNG extends CFO's term
Image: Petronet LNG

India’s largest importer of liquefied natural gas, Petronet LNG, has extended the contract of its finance chief Vinod Kumar Mishra for an additional two years.

Petronet said on Tuesday that the its board of directors held a meeting on February 21 and approved the extension on the existing terms and conditions, starting from April 18.

The move remains subject to the approval of the members of the company in the general meeting, it said.

Mishra assumed the role of Petronet’s finance chief in April 2018.

Prior to joining Petronet, he was chief general manager for finance at the company’s shareholder GAIL.

Petronet LNG recently reported a higher quarterly profit and lower volumes at its Dahej and Kochi LNG import terminals.

The firm is expecting India’s LNG imports to increase in the first quarter of this year due to lower spot prices.

India’s LNG imports increased 7.5 percent in January, according to PPAC’s data, as spot prices continue to decline.

The JKM LNG spot price for April is currently trading below $15/MMBtu.

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