McGregor, who will become a non-executive director, is being replaced in a planned succession, the company said in an e-mailed statement today. Ng was previously the CEO of YTL PowerSeraya Pte, an electricity retailer.
SLNG was formed in June 2009 by the Energy Market Authority, Singapore’s energy regulator, to own and operate the S$1.7 billion ($1.4 billion) terminal on Jurong Island. The company will be led by a new CEO as it begins discussions with contractors to expand the facility’s throughput capacity to 9 million metric tons a year.
An “expression of interest” has been issued to potential contractors and a final investment decision, including the awarding of work, is expected to take place early in the second quarter of 2014, according to the statement.
The LNG terminal started commercial operations in May with an initial regasification capacity of 3.5 million tons a year. This will increase to 6 million tons by the end of 2013 after a third storage tank and additional facilities start up.
– Ann Koh, Copyright 2013 Bloomberg.
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