Prabhat Singh believes the golden era for gas has arrived. As the CEO and Managing Director of Petronet LNG, India’s largest liquefied natural gas importer, he has been instrumental in driving the country to the forefront of the industry, and he’s not slowing down anytime soon.
“LNG is going to be around for the next three to four decades,” Prabhat says, “so we’re certainly working with the right product. Petronet has a niche capability of dealing solely with LNG and we’re seeing domestic and international pricing converge. This means that there is huge opportunity for this industry to proliferate.
“Around 50 years ago, LNG was primarily used by two or three countries, and less than one million tonnes were being transacted. Therefore, you felt safe for only the next 20 or so years,” he continues. “Now, as we are moving into commoditisation, and the market continues to mature, I am starting to think that there are going to be more suppliers than buyers. There are nearly 70 import and export countries participating in the natural gas sector already, and this figure looks set to grow. It is by and large a buyer’s market now.”
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