Appointment Bolsters Strength of Sempra LNG's Experienced Senior Management Team
SAN DIEGO, Aug. 24, 2020 /PRNewswire/ -- Sempra LNG, a subsidiary of Sempra Energy (NYSE: SRE), today announced that Lisa Glatch, currently chief operating officer for Sempra LNG, has been promoted to president and chief operating officer for Sempra LNG.
"We could not be more pleased to appoint Lisa to the role of president as we maintain our focus on growing our liquefied natural gas (LNG) business to serve global markets," said Justin Bird, chief executive officer of Sempra LNG. "With Phase 1 of Cameron LNG now in commercial operations, we have matured into a business that encompasses the full life cycle of LNG export facility development, design, construction, and operations. Lisa's impressive experience is a great asset and her leadership will be key to our continued success as we look ahead to the construction of our proposed export facility at Energía Costa Azul on the Pacific Coast of Mexico."
Glatch will continue to report to Justin Bird, chief executive officer of Sempra LNG. She also will continue to serve as the board chair for Cameron LNG and lead Sempra LNG's sustainability initiatives. Her appointment builds further on the Sempra LNG's leadership team's broad-based expertise in project development, marketing, financing, engineering and construction, as well as commercial and stakeholder engagement.
"I'm honored for the opportunity to help lead this talented team as we move into full commercial operations at Cameron LNG and advance our other prospects and projects," said Lisa Glatch. "Our mission to be North America's premier LNG infrastructure company is a bold one and I couldn't be more excited about the progress we are making as we continue to unlock access to global markets through strategically located facilities."
With more than 30 years of experience, Glatch joined Sempra Energy in 2018 as strategic initiatives officer and then joined Sempra LNG as chief operating officer, applying best practices in completing Cameron LNG construction and progressing Sempra LNG's proposed Energía Costa Azul LNG and Port Arthur LNG projects under development. Previously, Glatch held board and senior executive positions in business development, operations, and project management at CH2M, Jacobs and Fluor, global engineering, construction and technical services firms serving the energy market.
About Sempra LNG
Sempra LNG's mission is to be North America's premier LNG infrastructure company by providing sustainable, safe and reliable access to U.S. natural gas for global markets. Sempra LNG owns a 50.2% interest in Cameron LNG, a 12 million tonnes per annum (Mtpa) export facility operating in Hackberry, Louisiana and is currently developing additional LNG export facilities on the Gulf Coast and Pacific Coast of North America through Cameron LNG expansion, Port Arthur LNG in Texas and Energía Costa Azul LNG in Mexico. Through our disciplined value creation process, Sempra LNG evaluates expansion opportunities at each of these locations and other infrastructure investments along the LNG value chain.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees of performance. Future results may differ materially from those expressed in the forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.
In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions.
Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuances of permits and other authorizations, and other actions by (i) the U.S. Department of Energy and other regulatory and governmental bodies and (ii) states, cities, counties and other jurisdictions in the U.S., Mexico and other countries in which we operate or do business; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the COVID-19 pandemic on our (i) ability to commence and complete capital and other projects and obtain regulatory approvals, (ii) supply chain and current and prospective counterparties, contractors, customers, employees and partners, (iii) liquidity, resulting from bill payment challenges experienced by our customers, decreased stability and accessibility of the capital markets and other factors, and (iv) ability to sustain operations and satisfy compliance requirements due to social distancing measures or if employee absenteeism were to increase significantly; the resolution of civil and criminal litigation, regulatory investigations and proceedings and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas and the impact of the extreme volatility and unprecedented decline of oil prices on our businesses and development projects; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may impact our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the newly effective United States-Mexico-Canada Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to U.S. federal and state and foreign tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website at www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra LNG, Cameron LNG, Port Arthur LNG and ECA LNG are not the same company as San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra LNG, Cameron LNG, Port Arthur LNG and ECA LNG are not regulated by the California Public Utilities Commission.
SOURCE Sempra LNG