Top Tellurian executives poised for big payday if LNG plant goes ahead
(Reuters) - Top executives of U.S. LNG developer Tellurian Inc could earn tens of millions of dollars if its proposed Driftwood LNG plant gets a green light, or if company is sold, a proxy filing released on Thursday showed.
Tellurian had previously said that it was looking at all options, including a potential sale, to keep its Driftwood LNG export project alive.
The company's shares lost 55% of their value in 2023 as Tellurian has been unable to attract commercial support for the project and is yet to give it a financial green light.
David Belhumeur, who took over as the company's president last December, could earn $15 million, finance chief Simon Oxley $12 million and accounting chief Khaled Sharafeldin $4.5 million, under the company's Driftwood Incentive Program.
Former President Octavio Simoes, now an adviser to the firm, could get a $16 million payout if the company is sold before he leaves in June, the proxy showed.
Additionally, former chairman Charif Souki received nearly $8.19 million from the company due to his termination, sans the 3.2 million in outstanding tracking units he held as of Dec. 31.
Related News
Related News
- Gasum selects Wärtsilä for another bio-LNG project in Sweden
- Vanguard Renewables breaks ground on its first organics-to-renewable gas facility
- Linde selected to supply carbon capture technology to ADNOC’S Hail and Ghasha project
- Tecnimont to build waste-to-biogas plant to fuel local kitchens in India
- Topsoe, Aramco sign JDA to advance low-carbon hydrogen solutions using eREACT™
Comments