HOUSTON, Dec. 18, 2014 /PRNewswire/ -- Freeport LNG
Development, L.P. (FLNG) today announced that John M. Duty, Jr. has been appointed to the
Board of Directors of the company's general partner as an
independent director. Mr. Duty, age 69, retired from Bechtel
Corporation in 2009 after 40 years of service to the company,
ultimately retiring as its Senior Vice President and Manager of
Global LNG.
"I am delighted to welcome John to our Board," said Mr.
Smith. "As we embark on the construction of our 3-train
natural gas liquefaction and LNG export facility, John's broad
experience with construction of large-scale infrastructure
projects, and LNG projects in particular, will be an invaluable
asset. We appreciate his willingness to both serve as a
director and lead our newly formed Construction Committee."
During his career with Bechtel, Mr. Duty served as Manager of
Engineering, Project Manager, Operations Manager, Manager of the
Houston Office and all US Regional Offices, President of Petroleum
and Chemical Global Industry Unit, and Manager of Global LNG. Mr.
Duty's LNG experience included Project Manager on the P.T.
Badak/Huffco LNG Train B Project in 1984 and Project Director of
the Atlantic LNG Project in 1996. As Manager of Global LNG he
provided leadership on all Bechtel's LNG projects between 1996 and
2009. Mr. Duty has over 16 years of engineering, construction and
project management experience in LNG on a worldwide basis during
his career.
With the appointment of Mr. Duty, the FLNG Board is now
comprised of the following directors: Michael S. Smith
(Chairman), Charles M. Reimer,
Sigmund L. Cornelius, Hugh S. Urbantke, John
M. Duty, Jr., Robert Heitmann
(Zachry Hastings), Hisaichi Yoneyama (Osaka Gas), and Jamie Cemm
(IFM Investors).
Project Update
In November
2014, Freeport LNG received final approvals for its proposed
3-train natural gas liquefaction and LNG export facility on
Quintana Island near Freeport, Texas from the U.S. Federal Energy
Regulatory Commission and the U.S. Department of Energy. With
these approvals, Freeport LNG has received all authorizations
required for construction of the initial 3-train liquefaction
project and the export of the entire contracted LNG production
volume of the initial three trains.
Also in November 2014, Freeport
LNG closed financing and commenced construction of initial two
trains of the liquefaction project under contracts awarded to a
joint venture between CB&I, Inc. and Zachry Industrial, Inc.
The first two trains are anticipated to commence operations 45 and
50 months from start of construction, respectively.
Construction of a third train is expected to commence in the second
quarter of 2015, with operations to begin approximately six months
following the second train. Each liquefaction train has a nameplate
design capacity of 4.64 million tonnes per annum. Approximately
13.2 million tonnes per annum of the production capacity of the
three liquefaction trains has been contracted under use-or-pay
liquefaction tolling agreements with Osaka Gas, Chubu Electric, BP
Energy Company, Toshiba Corp. and SK E&S LNG, LLC.
Documentation pertaining to the liquefaction project, including
regulatory materials, is available on Freeport LNG's website at
www.freeportlng.com.
About Freeport LNG
Freeport LNG Development, L.P. owns
and operates an existing LNG regasification terminal located near
Freeport, Texas. The terminal
started commercial operation in June
2008. Michael Smith owns 99%
of the sole general partner of Freeport LNG Development, L.P.
Freeport LNG Development, L.P.'s limited partners are: Freeport LNG
Investments, LLLP and FLNGI Option Holdco, LLC, each owned by
Michael S. Smith; ZHA FLNG Purchaser
LLC, a Delaware limited liability
company; and Turbo LNG, LLC, a wholly owned subsidiary of Osaka Gas
Co., Ltd. The initial train of the liquefaction project is
owned by Freeport LNG Expansion, L.P., a wholly owned subsidiary of
Freeport LNG Development, L.P., Osaka Gas Co., Ltd. and Chubu
Electric Power Co., Inc. The second train of the liquefaction
project is owned by Freeport LNG Expansion, L.P. and IFM
Investors.
For further information, please contact:
Lisa Singleton
Brunswick Group for Freeport LNG
214-254-3790
lsingleton@brunswickgroup.com
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SOURCE Freeport LNG Development, L.P.