Before joining as the MD of IGL, Kumar was responsible for overseeing GAIL’s gas marketing and transmission business. He has taken over the reins of IGL from A.K. Jana, who gone back to GAIL (India) before his superannuation. IGL is a joint venture of GAIL and BPCL, with the government of Delhi holding a 5% equity stake.
A mechanical engineer from IIT Kharagpur, Kumar has an experience of over 34 years in the gas sector. In the year 2011, he was tasked with setting up GAIL’s overseas LNG trading subsidiary GAIL Global (Singapore) Pte Ltd in Singapore, said a statement from from IGL. He is also GAIL’s nominee director on the boards of Maharashtra Natural Gas Ltd (MNGL) and GAIL Global (Singapore).
IGL’s city gas distribution (CGD) networks is spread across 30 districts in four states including, Delhi. According to the company, it is meeting fuel requirements of over 1.2 million vehicles running on CNG in NCR through a network of more than 600 CNG stations.
On Thursday, the company had increased prices of compressed natural gas (CNG) and piped natural gas (PNG) in Delhi and other cities in the National Capital Region including Noida, Greater Noida, Ghaziabad and Gurugram with immediate effect.
The CNG price in Delhi was increased by Re 1 per kg to ₹59.01 per kg, and the prices of PNG was raised by Re 1 standard cubic meter (SCM) to ₹36.61 per SCM in the national capital. This was the third increase in CNG prices in a month.
The rise came on the back of recent increase in global oil and gas prices.
Share of the company closed at ₹367.70 on the BSE on Friday, lower by ₹9.65 or 2.56% from its previous close.