Tellurian alters management following chairman replacement

Tellurian Inc., Houston, appointed Martin J. Houston, the company’s co-founder, as chairman of the board of directors late. The news came late Friday, Dec. 8, through a release stating that co-founder Charif Souki would “no longer serve as an executive or officer of the company or hold any managerial responsibilities,” yet will remain a member of the board of directors.

With the start of the week, Tellurian named former general counsel Daniel Belhumeur as president of Tellurian, and former deputy general counsel Meredith Mouer as general counsel and chief compliance officer.

The moves come as the company looks to advance several initiatives, it said in a release Dec. 11.

“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,” said chief executive officer Octávio Simões.

In October, Tellurian requested a 3-year extension from the US Federal Energy Regulatory Commission (FERC) to put its 27.6-million tonne/year (tpy) Driftwood LNG plant on the Calcasieu River, south of Lake Charles, La., in service. The request came on the heels of an agreement signed with Baker Hughes to secure equipment for the liquefaction plant (OGJ Online, Oct. 9, 2023; Sept. 6, 2023)