GEECL, a leading Indian CBM Company, has marked its presence in the industry with its unconventional hydrocarbon resource, CBM (Coal Bed Methane). Mr. Prashant Modi, the President and Chief Operating
Officer, is one of the key visionary men in the company who has made it possible for Great Eastern to grow with profitable revenue.

Mr. Prashant Modi, who is associated with the Company and its Promoter Group companies since 1996, shed some light about the industry. According to him, CBM can play a complimentary role in meeting energy needs in the country. Presently, its availability is marginal as compared to the total energy demand in the country. Hence, there is low awareness of gas use as an alternative to using costly and dirty fuels. This is a challenge faced by Mr. Prashant Modi.

There are other major challenges in monetising CBM resources in India as the CBM areas generally have no pipeline network. Besides, developing a customer base is a critical challenge. Talking about the
current mechanism for CBM utilisation & pricing in India, Mr. Prashant Modi reveals that CBM contract allows free market pricing and government must ensure this. Pricing remains the biggest incentive for investment in this sector.

Moreover, in CBM, there is no cost recovery and the company needs to pay Royalty/PLP on the sales as soon as the commercial production commences. Therefore, Mr. Prashant Modi urges to increase production at the earliest. For smooth and fast execution of development of CBM projects in the country, he further added that clearances by various agencies of the government should be given before any areas are mandated to operators. This will immensely improve the investment environment and hasten the process of investment.

Mr. Prashant Modi, the young face of GEECL, is responsible for day-to-day operations of the Company. He is dedicated towards the company’s growth. Under his leadership and guidelines, GEECL became the first Indian Company to be listed on the London Stock Exchange's Alternative Investment Market (AIM). In May 2010, the firm was shifted to the main board of the London Stock Exchange.