LNG developer Tellurian ousts CEO

 Houston-based Tellurian ousted its chairman and co-founder Charif Souki and will replace him with Martin J. Houston.

Houston co-founded Tellurian with Souki in 2016. The company’s board also named Daniel Belhumeur as president.

“This is an important moment for Tellurian as we navigate several key initiatives,” said Chief Executive Officer Octávio Simões. “We are focused on unlocking shareholder value via execution of potential development and commercial partners at Driftwood LNG, while also evaluating options to refinance our existing debt, streamline costs and improve our balance sheet. These management changes ensure alignment and continuity. I look forward to working with Daniel as he oversees key functions while I prioritize bringing Driftwood LNG, now with growing commercial momentum, to final investment decision.”

Houston has served as vice chairman of the Board since the company’s inception. With over 40 years of experience in the energy industry, he has held leadership, board, or advisory positions at various companies, including BG Group plc, Severn Trent plc, EnQuest plc, Energean plc, TPH International, Moelis, Hakluyt, BUPA, Bupa Arabia, and CC Energy.

“The board and I are confident in Tellurian’s ongoing leadership and would like to thank Charif Souki for his leadership and contributions to Tellurian,” Houston said. “He holds a special place in the industry and the founding of U.S. LNG.”

Belhumeur has served as the General Counsel of Tellurian since February 2017 and as Chief Compliance Officer since March 2017. Prior to joining Tellurian, he served as vice president, Tax and General Tax Counsel, Tax Director and Domestic Tax Counsel at Cheniere Energy.