Sino Gas & Energy appoints new CEO

Sino Gas & Energy said it has appointed Glenn Corrie as Chief Executive Officer.

In addition, Sino Gas announced the upcoming succession of current Non-Executive Director Philip Bainbridge to the role of Non-Executive Chairman effective 1 September 2014, at which point current Chairman Gavin Harper will transition to a Non-Executive Director role.

Bainbridge said Corrie’s technical and commercial capabilities as well as his senior management experience are an ideal fit with Sino Gas’ requirements as it moves through the development phase and into production at its Ordos Basin assets in China.

“We are delighted to welcome a leader of Glenn’s calibre to head a strong and established Sino Gas team in Beijing and guide the next stages of the Company’s growth,”  Bainbridge said.

Corrie previously held the position of Commercial and Business Development Director with Ophir Energy, PLC a London-listed oil and gas exploration company with a market capitalisation of approximately £1.3 billion (A$2.37 billion). He was the senior executive responsible for all corporate development initiatives including executing the portfolio growth strategy.

Prior to joining Ophir, Corrie was a Director with Temasek Holdings Ltd in Singapore, responsible for global energy investments. Between 1998 and 2010, he held a variety of Technical and Corporate Development leadership positions within the Upstream Division of the Royal Dutch Shell Group, including Strategy Manager for Shell Upstream International Asia.

Corrie, a trained geophysicist, started his career at Woodside Petroleum and has completed a Master of Business Administration from the University of Chicago Booth School of Business . He is a Member of the Australian Institute of Company Directors.

“I am delighted to be joining the Company at this exciting time. Sino Gas has a high quality asset base, strong partnerships and a robust cash position, providing a strong platform for growth. I am very much looking forward to working with the entire team and our strategic partners in China to realise the full value of these projects,” Corrie said.

Bainbridge was appointed to the Board of Sino Gas in April this year. He brings a wealth of oil and gas experience from six years as Executive General Manager for Oil Search Limited and 23 years with the BP Group across a variety of technical and commercial roles.

Harper said the orderly succession of the Chairman’s role would bring important new skills and perspectives to Sino Gas as it seeks to deliver its corporate strategy.

“The strong new leadership team headed by Glenn and Philip will build on the strong foundation already established at Sino Gas,” Harper said. “We are moving closer to production with a business plan underpinned by the strong fundamentals of gas quantity, productivity, market demand, attractive pricing and supportive gas policy measures in place.”

The incoming Chairman, Bainbridge, paid tribute to the role played by Harper since he joined the Sino Gas Board of Directors in 2008.

“Under Gavin’s leadership, both in an executive and non-executive capacity, Sino Gas has achieved a great deal and is now on the cusp of achieving its long-standing goal of production. I look forward to his ongoing support and contribution on the Board as we aim to unlock more value for Sino Gas shareholders,” Bainbridge said.

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Press Release, July 16, 2014