Cheniere Energy Inc. has named Jack A. Fusco president and CEO. He succeeds Neal A. Shear, who has held the same positions on an interim basis since December when Charif Souki, Cheniere co-founder, was ousted from the top position (see Daily GPI,Dec. 14, 2015). Fusco joins Cheniere from Calpine Corp., where he most recently served as executive chairman of the board. Fusco’s 30-year-plus energy career began at Pacific Gas & Electric Co. upon graduation from California State University, Sacramento with a bachelor’s degree in mechanical engineering in 1984. He joined Goldman Sachs 13 years later as a vice president with responsibility for commodity trading and marketing of wholesale electricity, a role that led to the creation of Orion Power Holdings, an independent power producer that Fusco helped found with backing from Goldman Sachs, where he served as president and CEO from 1998 to 2002. In 2004, he was named chairman and CEO of Texas Genco LLC and managed the transition of that business from a subsidiary of a regulated utility to an independent company before its merger with NRG in 2006. Cheniere has granted one-time employee inducement awards of 236,381 restricted shares to Fusco. He has agreed to purchase $10 million worth of Cheniere common shares by Dec. 31, 2016.
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Articles from Cheniere
People — Jack Fusco, Cheniere Energy; David Sweet, Pennsylvania
Cheniere Energy Inc. has named Jack A. Fusco president and CEO. He succeeds Neal A. Shear, who has held the same positions on an interim basis since December when Charif Souki, Cheniere co-founder, was ousted from the top position (see Daily GPI,Dec. 14, 2015). Fusco joins Cheniere from Calpine Corp., where he most recently served as executive chairman of the board. Fusco’s 30-year-plus energy career began at Pacific Gas & Electric Co. upon graduation from California State University, Sacramento with a bachelor’s degree in mechanical engineering in 1984. He joined Goldman Sachs 13 years later as a vice president with responsibility for commodity trading and marketing of wholesale electricity, a role that led to the creation of Orion Power Holdings, an independent power producer that Fusco helped found with backing from Goldman Sachs, where he served as president and CEO from 1998 to 2002. In 2004, he was named chairman and CEO of Texas Genco LLC and managed the transition of that business from a subsidiary of a regulated utility to an independent company before its merger with NRG in 2006. Cheniere has granted one-time employee inducement awards of 236,381 restricted shares to Fusco. He has agreed to purchase $10 million worth of Cheniere common shares by Dec. 31, 2016.
Brief — Plains All American-Cheniere
Plains All American Pipeline LP unit Pine Prairie Energy Center LLC has entered into a 10-year firm storage service agreement with Cheniere Energy Partners LP’s Sabine Pass Liquefaction LLC. Pine Prairie will provide 8 Bcf of firm natural gas storage capacity to Cheniere beginning in 2018 to serve the needs of the Sabine Pass Liquefaction facility in Louisiana. “With this new agreement, we will be able to more effectively manage the load swings as we construct and operate our liquefaction trains at Sabine Pass,” said Corey Grindal, Cheniere vice president of supply.
Brief — Plains All American-Cheniere
Plains All American Pipeline LP unit Pine Prairie Energy Center LLC has entered into a 10-year firm storage service agreement with Cheniere Energy Partners LP’s Sabine Pass Liquefaction LLC. Pine Prairie will provide 8 Bcf of firm natural gas storage capacity to Cheniere beginning in 2018 to serve the needs of the Sabine Pass Liquefaction facility in Louisiana. “With this new agreement, we will be able to more effectively manage the load swings as we construct and operate our liquefaction trains at Sabine Pass,” said Corey Grindal, Cheniere vice president of supply.
Souki, Houston Start Over With Long View of Low-Cost U.S. LNG
Cheniere Energy Inc., its former CEO Charif Souki and his business partner Martin Houston can all agree that the United States will be the low-cost provider of liquefied natural gas (LNG) to an expanding global market for decades to come. And that might be the end of it.
With First LNG Export Cargo, U.S. Sets Sail Into Growing, Evolving Global Market
With the first cargo of liquefied natural gas (LNG) from the Lower 48 states expected to depart Wednesday afternoon from Cheniere Energy Inc.’s Sabine Pass terminal, the global gas market is entering a period of evolutionary change, speakers at IHS CERAWeek said.
LNG Veterans Souki, Houston Form Gulf Coast Terminals Venture
Cheniere Energy Inc. co-founder Charif Souki and BG Group plc liquefied natural gas (LNG) veteran Martin Houston Tuesday announced the formation of Tellurian Investments, which will offer “mid-scale” LNG export projects along the U.S. Gulf Coast.
Sabine May Have Produced First LNG, According to Genscape
Cheniere Energy Inc.’s Sabine Pass Liquefaction project in Louisiana may very well have produced its first liquefied natural gas (LNG) this week from the its first train, Genscape Inc. said Friday after monitoring pipeline and flaring activity around the plant.
People — Charif Souki
Cheniere Energy Inc. co-founder and former CEO Charif Souki has resigned from the company’s board of directors, Cheniere disclosed in a regulatory filing. Souki was ousted from the CEO post late last year after he reportedly tangled with activist investor Carl Icahn, the company’s largest shareholder (see Daily GPI,Dec. 14, 2015). Neal A. Shear is interim president and CEO.Andrea Botta had replaced Souki as board chairman.
First Sabine Pass Cargo Delayed Until Late February, Early March
The Sabine Pass liquefied natural gas (LNG) terminal will ship its first cargo later than initially thought, according to an announcement Thursday by Cheniere Energy Partners LP.
