Downeast LNG names chairman, progresses project

Downeast LNG informed that George Petrides has been appointed Chairman of its Board of Directors.

This appointment follows a number of recent advancements in the development of Downeast’s planned LNG export facility in Maine, the company said in a statement on Thursday.

Commenting on his new role Petrides, an investment banker and investor in the energy industry for 30 years, said, “We expect to admit additional investment soon to keep development and permitting on pace as we advance to building out the project for an estimated $2.2 billion.”

Dean Girdis, Downeast’s Founder, CEO and President said that Downeast LNG’s recent discussions with producers have gone well and that discussions for pipeline capacity are progressing.

The company recently reached a deal with CB&I to advance the design and construction of the project.

Girdis added that offtaker discussions have also progressed for the placement of 3 million tons of LNG per annum.

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LNG World News Staff; Image: Downeast LNG

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