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Freeport LNG selects new president

LNG Industry,

Freeport LNG announced that it has chosen Sigmund Cornelius to succeed Charles Reimer as president and chief operating officer of the company, effective from 1st April 2014.

CEO, Michael Smith, commented: "This leadership change comes at a critical time for our company. Having worked closely with our management team on a number of critical projects during his time with ConocoPhillips and after retiring, Sig[mund] is uniquely positioned to help lead this company. He has broad energy experience and a deep understanding of this industry as well as this company, which will serve us well as we continue to develop and construct our three train liquefaction terminal."

Cornelius is the retired senior vice president of finance and chief financial officer at ConocoPhillips, where he had a 30-year career, which included over 14 years of operational P&L responsibilities covering domestic and international exploration and production operations and natural gas processing divisions. This includes serving as President, Global Gas, with responsibility for all worldwide LNG for ConocoPhillips. Cornelius will begin working at Freeport on 1st January, in anticipation of his new role.

Reimer will continue to serve as a member of the Board and will stay on as advisor to Freeport LNG for at least four years after the final investment decision is made in Freeport LNG Expansion's planned Train 3, which is currently expected by the end of 2014. In his capacity as advisor, Reimer will assist in overseeing construction of the planned liquefaction facility.

"Charles has been an outstanding partner since we founded this company together ten years ago," said Smith. "Working side by side, we have created a tremendous enterprise together and I am proud of what we have accomplished. I want to thank Charles for continuing to delay his retirement until we were this far along in the development of our planned liquefaction facility, and I look forward to continuing to work closely with him in his new capacity."

Adapted from press release by Katie Woodward

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