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Cheniere makes leadership changes

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LNG Industry,

Cheniere Energy Inc. – alongside Cheniere Energy Partners, L.P. and Cheniere Energy Partners LP Holdings, LLC – has appointed Neal A. Shear – a member of the Board of Directors – to the position of interim President and CEO. In addition to this, G. Andrea Botta has been appointed to the position of Chairman of the Board of Directors, taking immediate effect. Shear has additionally been made the Chairman of the Boards of Cheniere Energy Partners GP, LLC, which is the general partner of Cheniere Energy Partners, L.P. and Cheniere Energy Partners LP Holdings, LLC. This follows the decision of the board to replace Cheniere’s co-founder, Chairman, President and CEO – Charif Souki.

David B. Kilpatrick, the lead independent director, said: “The Board of Directors thanks Charif for his entrepreneurial spirit over the past 19 years. Under his leadership, Cheniere was established as a first mover in LNG exports and is positioned to become a significant player in the global LNG markets."

G. Andrea Botta said: “With Sabine Pass Liquefaction's first of five LNG trains nearing completion and with the overall construction of both Sabine Pass and Corpus Christi projects advancing as planned, Cheniere will transition into an operating company with stable and growing positive cash flow underpinned by long-term offtake agreements with investment grade energy companies worldwide.

“The changes announced today will serve Cheniere well in creating and sustaining shareholder value, while continuing to explore a limited number of strategic initiatives within the LNG industry."

Neal Shear said: “Cheniere is well positioned for growth in the global LNG markets and the Board has the utmost confidence in our management team given its significant accomplishments against key milestones.”

Edited from press release by David Rowlands

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