Tellurian replaces chairman as it looks to take FID

Tellurian said Mr Souki will “no longer serve as an executive or officer of the company or hold any managerial responsibilities.” He will be replaced by Martin Houston, his co-founder and vice chairman, who will also take over as chairman of the board of directors.

Mr Souki remains a member of the board of directors. 

Mr Houston said, “The board and I are confident in Tellurian’s ongoing leadership and would like to thank Charif Souki for his leadership and contributions to Tellurian. He holds a special place in the industry and the founding of US LNG.” 

Mr Souki is a colourful figure in the energy industry. A former restaurateur, he was at the forefront of the shale gas developments in the 2000s with the company he helped found, Cheniere Energy. Cheniere began life as an exploration company and a natural gas importer before switching to turn Sabine Pass into a liquefaction facility for exports. 

In 2015, Mr Souki was ousted from Cheniere after a board dispute with investor Carl Icahn. He founded Tellurian in 2016 with Mr Houston. 

Tellurian’s flagship project is the massive 27.6-mta Driftwood LNG export facility on the west bank of the Calcasieu River in Louisiana. The project has hit several roadblocks over the years. Earlier this year, an LNG supply agreement between Driftwood and Gunvor Singapore was terminated according to Tellurian documents submitted to the US Securities and Exchange Commission. 

Tellurian chief executive Octávio Simões said, “This is an important moment for Tellurian as we navigate several key initiatives. We are focused on unlocking shareholder value via execution of potential development and commercial partners at Driftwood LNG, while also evaluating options to refinance our existing debt, streamline costs and improve our balance sheet.”

The company has made other executive appointments. Daniel Belhumeur will take over as president and Meredith Mouer as general counsel and chief compliance officer.

Mr Simões said, “These management changes ensure alignment and continuity. I look forward to working with Daniel as he oversees key functions while I prioritise bringing Driftwood LNG, now with growing commercial momentum, to final investment decision.”

“We have the leadership team in place to execute our strategic priorities, and together we will move the business forward,” added Mr Belhumeur.

The small-scale LNG specialist Avenir has also made changes, with Jonathan Quinn being appointed managing director of Avenir LNG. Mr Quinn was one of the founding management team members of Avenir when the company was established in 2018, and in his previous role as commercial director, has been responsible for the group commercial strategy and business development.

He has spent more than a decade in midstream infrastructure, shipping and trading and previously held business development and corporate strategy roles at Stolt-Nielsen Ltd, prior to the establishment of Avenir. Stolt-Nielsen owns a majority 50% stake in Avenir with Golar LNG Ltd and Höegh LNG Holdings Ltd each holding a 25% share.