|By PR Newswire||
|December 4, 2013 02:54 PM EST||
HOUSTON, Dec. 4, 2013 /PRNewswire/ -- Freeport LNG today announced that it has selected Sigmund (Sig) Cornelius, 59, to succeed Charles Reimer, 69, as president and chief operating officer, effective April 1, 2014.
"This leadership change comes at a critical time for our company," said Michael S. Smith, Chief Executive Officer, Freeport LNG. "Having worked closely with our management team on a number of critical projects during his time with ConocoPhillips and after retiring, Sig 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 of 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. Other roles included President, Lower 48 Exploration & Production Region, President, Lower 48, Latin America and Midstream Operations and Vice President, Upstream Business Development. Cornelius currently sits on the Boards of Carbo Ceramics, USEC, NiSource, Parallel Energy Trust and Western Refining. Past Board seats include DCP Midstream, DCP Midstream Partners, Chevron Phillips Chemical Company, and he also served on the Board of Directors for Freeport LNG from June 2004 to August 2007. Cornelius will begin with Freeport on January 1, 2014, 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 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."
About Freeport LNG
Freeport LNG Development, L.P. (FLNG), is a Delaware limited partnership, whose sole general partner is owned 50% by Michael S. Smith and 50% by ConocoPhillips Company. FLNG has four limited partners: (1) Freeport LNG Investments, LLLP, an entity owned by Michael S. Smith; (2) ZHA FLNG Purchaser LLC, a Delaware limited liability company; (3) Texas LNG Holdings, LLC, a wholly owned subsidiary of The Dow Chemical Company; and (4) Turbo LNG, LLC, a wholly owned subsidiary of Osaka Gas Co., Ltd. FLNG owns and operates an existing LNG regasification terminal located near Freeport, Texas that commenced operations in June 2008. In 2010, Freeport LNG Expansion, L.P., a wholly owned subsidiary of FLNG, commenced development of an expansion of the existing LNG receiving facility to add natural gas liquefaction production and export capability. More information about FLNG and the liquefaction project may be found at www.freeportlng.com.
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SOURCE Freeport LNG