Appointment of New Chairman
Perth, Sep 5, 2016 AEST (ABN Newswire) - The Board of Directors of Liquefied Natural Gas Limited (
ASX:LNG) (LNGLY:OTCMKTS) (LNGL or the Company) is pleased to announce that it has appointed Non-Executive Director Mr Paul Cavicchi as chairman of the LNGL Board effective at the close of the Annual General Meeting on 17 November 2016. The current Chairman, Mr Richard Beresford, will step down as Chairman and remain on the LNGL Board as Non-Executive Director.
Mr Cavicchi is based in Houston and will be able to directly provide assistance with the North American development and operational efforts. Houston is the location of the North American headquarters of LNGL.
Mr Cavicchi has over 30 years' experience in the international energy industry across a range of natural gas and power projects, including development and construction of LNG infrastructure. His most recent position was Executive Vice President of GDF SUEZ Energy North America, Inc. (GSENA), a subsidiary of GDF SUEZ Energy International, where he supervised and directed all business development and construction efforts for GSENA in the United States, Canada and Mexico. Previously, he held the roles of President and CEO of SUEZ Renewable Energy NA, LLC, and before that President and CEO of SUEZ Energy Generation North America, Inc. Mr Cavicchi joined the LNGL Board in October 2014.
Mr Richard Beresford stated, "We are delighted to welcome Mr Cavicchi as our new Chairman and we believe that, with his extensive experience in international energy industry and commitment to governance best practice, he is an excellent choice to step in as Chairman."
LNGL's Managing Director and Chief Executive Officer Mr Greg Vesey said, "The Board wishes to thank Richard for his guidance, leadership and commitment as Chair of the Board since 2010, and is pleased that the Company will continue to benefit from Richard's 30-plus years of experience in the international energy industry through his ongoing Non-Executive Directorship."
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (
ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
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