Tellurian Investments LLC, owners of Driftwood LNG, announced earlier this week the hiring of Meg Gentle, who will serve as company president and CEO and as a member of the company’s board of directors. Company officials said Gentle also made a $10 million private investment in Tellurian.
Gentle will be the second former Cheniere employee to hold a high-ranking position within Tellurian. Charif Souki, co-founder of Tellurian, spent 19 years with Cheniere before being ousted from his position as CEO in December.
Company officials said Gentle will spearhead the development of Driftwood — the proposed liquefaction facility five miles south of Carlyss. The facility will consist of five plants used to export 26 million tons of liquefied natural gas per year. The project is expected to cost $6 billion-$8 billion.
Souki released a statement Wednesday describing Gentle’s leadership experience. In 2009 when U.S. shale gas production grew by more than 50 percent, Souki said Gentle steered Cheniere through financial turmoil while serving as chief financial officer. He said that when a new company strategy was implemented, Gentle negotiated $25 billion worth of debt and equity financing “which turned Cheniere into a spectacular success.”
Souki founded Tellurian and developed Driftwood with the intent of competing with Cheniere’s Sabine Pass facility — the $20 billion Cameron Parish project capable of exporting 4 billion cubic feet of LNG per day.
While Souki’s departure from Cheniere was not overly amicable, officials still credited him with leading the Sabine Pass project and positioning the company “to become a significant player in the global LNG markets.”
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