Dive Brief:
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Tellurian, a Houston, Texas-based natural gas supplier, announced that it appointed a veteran of Barclays Investment Bank to become its finance chief.
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Khaled Sharafeldin, who has been serving as Tellurian’s CFO on an interim basis since March 3, will be replaced by Simon Oxley, who has spent over a decade at U.K.-headquartered Barclays, most recently as a managing director of oil and gas investment banking for Europe, the Middle East, and Africa, according to a Tuesday Securities and Exchange Commission filing by Tellurian.
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The appointment will become effective June 1, and Sharafeldin will remain the company’s chief accounting officer, the filing said.
Dive Insight:
Tellurian CEO Octavio Simoes said in a Wednesday press release that Oxley brings a “wealth of global finance and liquefied natural gas experience to Tellurian at a pivotal time, as we fund our cornerstone project, Driftwood LNG.”
“We look forward to leveraging his investment banking expertise and welcoming him to the Tellurian family,” Simoes said.
Oxley, 45, joined Barclays in September 2009 as a director of oil and gas investment banking, according to his LinkedIn profile. He became a managing director in 2014.
Oxley will receive an annual base salary of $525,000, the SEC filing said.
Tellurian announced last month that it signed a letter of intent with an unnamed New York-based institutional investor for the sale and leaseback of about 800 acres of land to be used for the company’s proposed Driftwood liquefied natural gas export facility in Louisiana.
The company generated about $50.9 million in revenues from natural gas sales in the first quarter of 2023 compared with $26 million during the same period in 2022, according to financial results released earlier this month.
