Tellurian Inc. announced Tuesday that its board of directors has named Charif Souki as the company’s new executive chairman.
Souki has been Tellurian’s non-executive chairman since founding the company back in February 2016. He also founded Cheniere Energy, Inc. in 1996 and served as chairman of the board of directors, chief executive officer and president until December 2015. Prior to Cheniere, Souki was an investment banker.
“As the world recovers, there is an urgent need to make up for lost time,” Souki said in a statement posted on Tellurian’s website on Tuesday.
“I am re-engaging to provide additional support to Tellurian, a company I co-founded with Martin Houston, using personal and friends and family funds,” he added in the statement.
“I am 100 percent committed to Tellurian’s success and will be working alongside our president and chief executive officer Meg Gentle, chief operating officer Keith Teague, and the most experienced LNG team in the industry to get our first-class project, Driftwood LNG, constructed,” Souki continued.
Tellurian’s president and CEO, Meg Gentle, said, “we are fortunate to have the benefit of our founders’ marketing expertise and relationships as we commercialize and finance Driftwood LNG”.
Driftwood LNG is a proposed 27.6 million ton per annum (mtpa) liquefaction export facility that will be located near Lake Charles, Louisiana on the U.S. Gulf Coast. The project has all the required permitting to begin construction, has achieved “significant commercial momentum” and is on target to begin delivering first LNG in 2023, according to Tellurian’s website.
Last month, in its first quarter results, Gentle said the company was lean, resolved and focused on delivering Driftwood LNG. During 1Q, Tellurian reduced corporate overhead expenditure and raised $50 million in gross proceeds through the issuance of $56 million zero coupon, unsecured notes.
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