LNG restructures board, searches for US-based project director
JOHANNESBURG (miningweekly.com) – Perth-based Liquefied Natural Gas (LNG) on Friday unveiled a new board and management structure to assist the company in the delivery of its Magnolia project in the US.
Paul Bridgwood and Norman Marshall would step down from the board on November 25, but would continue in their respective executive roles as chief technical officer and CFO. Bridgwood and Marshall have been appointed managers (directors) of LNG subsidiary, Magnolia LNG LLC.
The board has also agreed to start the search for a Houston-based nonexecutive director with relevant experience in major project development and construction in the US to maintain and accelerate the momentum of the Magnolia project.
“The primary role of the project director will be the overall management and coordination of the Magnolia LNG project through to final investment decision,” said LNG MD and president of Magnolia, Maurice Brand.
The project director would join Bridgwood (senior VP for engineering and construction), Marshall (senior VP for finance and commercial) and existing VP for development, Ernie Megginson, along with a team of consultants to deliver the Magnolia project.
The company hoped to make the appointment in the first half of next year.
An initial development plan for the Magnolia project, in Louisiana, has determined that it will consist of two LNG trains, with a total capacity of up to eight-million tonnes a year.
US-based Stonepeak Partners has partnered with LNG on the development of the project.
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