(Eds: Correcting name in headline, intro)
New Delhi, Feb 5 (PTI) India Gas Solutions Pvt Ltd - the 50:50 joint venture of UKs BP plc and Reliance Industries, today named a new chief executive in Vinod Tahiliani as the firm looks to step up natural gas marketing in the country.
IGS was formed in 2011 when BP bought 30 per cent stake in RILs gas producing KG-D6 and 20 other blocks for USD 7.2 billion.
It was to administers the existing gas sales contracts of eastern offshore KG-D6 block, market gas from upcoming fields like R-Series as well as imported LNG. Besides it is focussed on infrastructure to accelerate transportation and marketing of natural gas within the country.
"Tahiliani has over 25 years of international experience in the oil and gas business and project financing and joins IGS from BP, where he was most recently the Vice President, Strategy & Commercial for BP India," a company statement said.
For BP, he has developed gas value chain businesses and worked on oil, gas and power developments in India, Angola and Vietnam, it said.
When IGS was formed, BPs Hiten Mehta was appointed CEO. He however left a few years back and IGSs chief operating officer (COO) Amit Mehta was named acting CEO.
Sashi Mukundan, Region President and Country Head, BP India said: "The need for assured gas supplies to fuel the exponential energy demand and growth of India is crucial and our IGS partnership is well positioned to contribute significantly in this respect."
RIL Executive Director PMS Prasad said Tahiliani brings with him the expertise to lead IGS as the joint venture looks to further develop the business.
"Demand for gas has been growing at an exponential rate and we anticipate natural gas to emerge as the preferred choice of fuel given its properties as a cleaner and sustainable fuel source," he said.
RILs Bibhas Ganguly is the Chairman for IGS, and there is equal representation from RIL and BP on the IGS Board. The joint venture has employees seconded from both companies, bringing deep experience in the gas business, both in India and internationally. PTI ANZ MR
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