Tellurian, which is developing the proposed Driftwood liquefaction project on the US Gulf Coast, has announced that its board of directors has made Charif Souki executive chairman. Souki has been Tellurian’s non-executive chairman since co-founding the company in February 2016.
Tellurian’s president and CEO, Meg Gentle, stated: “Demand for liquefied natural gas (LNG) grew 13% last year and continues to grow at a pace that will outstrip capacity growth unless we act now and get facilities built. While COVID-19 has slowed the market this year, the market is rebalancing quickly and the underlying fundamentals that support long-term investment in LNG are strengthening. 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 tonnes per annum (mtpa) liquefaction export facility that will be located near Lake Charles, Louisiana. The project has received all necessary permits and is ready for construction, with 30% of engineering with Bechtel completed.
Souki said: “I am 100% committed to Tellurian’s success and will be working alongside our President and CEO Meg Gentle, COO Keith Teague, and the most experienced LNG team in the industry to get our first-class project, Driftwood LNG, constructed.”