Bloomberg News

Former-BP CEO Hayward Joins Gas-to-Liquids Producer as Chairman

March 07, 2013

Tony Hayward, former chief executive officer of BP Plc (BP/) and the current head of Genel Plc, joined gas- to-liquids company CompactGTL as its non-executive chairman.

The U.K. company’s equipment, allowing producers to create fuels such as diesel without a refinery, can be used in remote fields where it’s too expensive to get natural gas to market.

“Tony brings a high profile and industry backing and it’s a great endorsement for the technology,” CEO Nicholas Gay said in an interview. “We’re capable of monetizing gas wherever it is and Tony can help in discussions with major oil companies.”

CompactGTL built the first “modular” GTL plant, operating since 2010, for Petroleo Brasileiro SA in Brazil. The closely held company is backed by private-equity firm Coller Capital Ltd. Hayward succeeds Jeremy Coller, a Coller Capital partner.

To contact the reporter on this story: Brian Swint in London at bswint@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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