Written by
Lucy Hine

07 Mar 2018

Excelerate Energy puts lawyer at the helm

07 Mar 2018 • by Lucy Hine

Houston-based Excelerate Energy has appointed a lawyer as its managing director to head up the company after dumping the position of president and chief executive which has been held by Rob Bryngelson for 11 years.

The floating regasification specialist named Steven Kobos as managing director, saying he took up the position on 1 March.

Pointedly Excelerate’s statement makes no mention of its former CEO Bryngelson, adding: “ The position of president and chief executive officer has been eliminated.”

Bryngelson co-founded Excelerate in 2003 moving on to head up the company four years later.

Excelerate, which is owned by US oil and gas magnate George Kaiser, has been keeping a low profile over the past nine months.

The company, which has a raft of floating storage and regasification units in operation, was the subject of two rounds of sales negotiations but these collapsed last year.

The management change is likely to reignite talk that Kaiser has fresh plans for the company.

Kobos joins Excelerate after serving the company for the last 11 years as an attorney for Frederic Dorwart Law, where he focused on Excelerate’s operational, development and contractual transactions.

Excelerate said Kobos has 27 years experience of complex energy and infrastructure development projects, shipping, operational agreements and related project finance and tax matters in the Middle East, Asia, South America, Europe and the United States.

Kobos said he is “thrilled" to be a part of the Excelerate team.

"For 15 years, Excelerate has led the floating LNG sector by using proven technology to respond to the changing needs of the market," he said.

"Our customers can count on uninterrupted service and continued exceptional development, permitting and installation of offshore and near-shore regasification facilities as demand for natural gas remains high around the world."