Post Tagged with: "Jack Fusco"

Cheniere's Corpus Christie Plant

More U.S. Gas Earmarked for China: Cheniere, CNPC Go Long-Term

Cheniere Energy, Inc. (ticker: LNG) has entered into two LNG sale and purchase agreements (SPA) with China National Petroleum Corporation (CNPC). Under the SPAs with Cheniere’s subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Marketing International LLP, CNPC subsidiary PetroChina International Company Limited will purchase approximately 1.2 million tons per annum of LNG, with a portion of the supply beginning in 2018 and the balance beginning in 2023. The term of each SPA continues through 2043 and the purchase price for LNG will be indexed to the Henry Hub price, plus a fixed component. “We are pleased to announce these LNG contracts with China National Petroleum Corporation, an important global energy player in one of the largest and fastest growing LNG markets worldwide,” said Jack Fusco, Cheniere’s president and CEO. “These long-term SPAs build upon the Memorandum of Understanding we signed in November, and we look forward to a successful long-term[Read More…]

February 9, 2018 - 2:51 pm China, Closing Bell Story, LNG, Oil and Gas 360 Articles
Cheniere Hires Power Generation CEO Jack Fusco

Cheniere Hires Power Generation CEO Jack Fusco

The Cheniere Energy (ticker: LNG) board of directors has appointed Jack Fusco as the company’s new CEO. Fusco came to Cheniere from Houston-based Calpine Corporation (ticker: CPN), whose website describes it as America’s largest generator of electricity from natural gas and geothermal resources–84 power plants in operation or under construction (only 3 aren’t natgas), 27,000 megawatts of generation capacity, customers in 21 states and Canada, 2,300 employees. Fusco was CEO and board member at Calpine from August 2008 to May 2014 and served as Calpine’s Executive Chairman from May 2014 through May 11, 2016. In its press release, Cheniere said Fusco was recruited by Calpine’s key shareholders in 2008, “just as that company was emerging from bankruptcy.” The release said Fusco managed commodity trading and balance sheet risks associated with being a merchant power producer. Fusco will continue as a director on the board of Calpine. Fusco’s 30-year career includes 13 years at Pacific Gas & Electric, as a commodity trader and[Read More…]