[ad_1]
Kimmeridge, an alternative asset manager focused on the energy sector, has announced that its affiliate, Kimmeridge Texas Gas (KTG), has appointed David Lawler as CEO, effective immediately. Lawler will advance KTG’s efforts to become a fully integrated provider of LNG from well-head to water – providing reliable, secure, and clean energy to global markets.
Lawler brings more than 30 years of experience in the energy sector, with a distinguished track record across each of the positions he has held. Most recently, he served as Chairman and President of BP America, which accounted for nearly 40% of corporate global revenue. While at BP America, Lawler spearheaded the formation and implementation of an integrated strategy to achieve net-zero production by 2050. In addition, he served as CEO of BPX Energy, BP’s onshore unconventional and midstream business. He led the US$10.5 billion acquisition of BHP’s onshore assets, BP’s largest acquisition in more than 20 years, and built a world class operating team that delivered significant y/y improvements, including growing production over 125% while significantly reducing emissions in the Permian Basin.
To further accelerate KTG’s growth trajectory, Kimmeridge also announced the closing of a follow-on control investment in Commonwealth LNG. The funding will support a 9.5 million tpy LNG export facility in Cameron, Louisiana, through anticipated final investment decision (FID) in 1H25, and will raise Kimmeridge’s equity ownership in Commonwealth to over 90%.
Ben Dell, Managing Partner of Kimmeridge and Director at KTG, said: “We welcome David to the KTG team as it enters a compelling new era of growth, while accelerating carbon neutrality through the development of environmentally-responsible, low-cost energy assets. David has shaped and led large scale, best-in-class operations that align with Kimmeridge’s commitment to enhancing capital efficiency and reaching net-zero operations. Additionally, we would like to thank Mike Wieland for all his contributions as CEO of KTG since September 2022, helping to build it into the high-quality, scaled asset it is today.”
Dell continued: “We are excited to take a controlling interest in Commonwealth LNG as we integrate our business from well-head to water, and look forward to the completion of a best-in-class LNG export facility in Louisiana.”
Farhad Ahrabi, Commonwealth CEO and President, added: “We are delighted to integrate into the Kimmeridge team as we work towards FID in 2025. Kimmeridge shares our vision of bringing a differentiated offering to the LNG market, and we look forward to commencing delivery to our customers in 2028.”
David Lawler, CEO of KTG, concluded: “I am very pleased to join the KTG team and look forward to advancing the Company’s plans of becoming a fully integrated provider of LNG from well-head to water, including through our expanded partner-ship with Commonwealth, with an option for net zero cargoes. When produced responsibly, LNG is a reliable, easily accessible energy source. In the future, KTG will export clean energy across the world, helping economies accelerate their transition ambitions.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/26062024/kimmeridge-texas-gas-appoints-ceo/
[ad_2]
Source link
