Reported 8 months ago
Energy-focused private equity firm Kimmeridge has acquired a majority ownership stake in Commonwealth LNG and appointed a former BP Plc executive to lead the project. Kimmeridge is taking over founder Paul Varello’s share, increasing its stake to 90%, and appointing David Lawler as CEO of the Kimmeridge Texas Gas unit. This investment signals confidence in the future of gas globally and aims to integrate Kimmeridge's Eagle Ford assets with the LNG project, potentially expanding its gas footprint and selling LNG directly to customers on various pricing indices.
Source: YAHOO