Tellurian Inc. (Tellurian) (NASDAQ: TELL) today named Octávio Simões as President and Chief Executive Officer (CEO), and Jonathan Gross and Jean Abiteboul as new independent Board members, adding significant strength to an already experienced team.
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Octávio Simões President and Chief Executive Officer Tellurian Inc. (Photo: Business Wire)
Mr. Simões was President and CEO of Sempra LNG & Midstream where he was responsible for all liquefied natural gas (LNG) and natural gas midstream activities, including Cameron LNG, a 12 million tonnes per annum (mtpa) liquefaction facility that came onstream with first LNG exports in August 2019. Mr. Simões joined Tellurian as Executive Vice President, LNG Marketing and Business Development. He has engineering degrees from the Georgia Institute of Technology and from the University of Massachusetts – Dartmouth, and is a registered professional engineer.
As independent directors, Jonathan Gross and Jean Abiteboul bring vast upstream and LNG marketing experience to the Board.
Jonathan Gross is an oil and gas consultant and his company Jexco LLC provides upstream exploration and geological services. Formerly, he was a Senior Vice President of Energy Partners, Ltd., and also worked at Kuwait Energy Company and Cheniere Energy. He served on the Board of Directors for Cheniere Energy Holdings from 2014 to 2018. Mr. Gross is a Certified Geologist.
Jean Abiteboul is President of GIIGNL, the Paris- based International Group of LNG Importers founded in 1971. GIIGNL has 86 member companies headquartered in 27 countries, and GIIGNL members handle more than 90% of LNG imports worldwide. He is an engineer and was formerly President of Cheniere Marketing Ltd and an Executive Officer of Cheniere Energy, Inc. Mr. Abiteboul began and spent the majority of his career at Gaz de France (now Engie), serving in various executive capacities and on various boards.
Tellurian’s former President and CEO Meg Gentle is departing the company.
Executive Chairman Charif Souki said, “I watched Octávio put together a complex project at Cameron LNG with admiration. He and I together are responsible for 75 percent of the U.S. liquefaction capacity and I am delighted now to have the opportunity to work with him on Driftwood LNG, the next big milestone in U.S. liquefaction. With our Board of Director additions, Jean will bring a unique perspective on the global LNG market, and Jon has a deep understanding of the U.S. upstream industry. We stand at a critical inflection point in the energy sector. The fundamentals are now very supportive of our business model to launch an integrated American global natural gas company at Driftwood. Octávio, Jean and Jon will make a huge contribution to that effort. The Tellurian team thanks Meg for her hard work and significant contributions to the company over the past four years and we wish her all the best in the future.”
About Tellurian Inc.
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol “TELL”.
For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNG
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, benefits to be provided by the Company’s new directors and CEO and the prospects for the Driftwood project. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2019, and other Tellurian filings with the Securities and Exchange Commission, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
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Tellurian names LNG veteran Octávio Simões as President and CEO, and adds Jonathan Gross and Jean Abiteboul as independent board members
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