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Singapore LNG Names Ng CEO to Lead Terminal Expansion

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(Corrects to say Ng is CEO-designate from Dec. 1 in first and second paragraphs in story published Oct. 18.)

Oct. 18 (Bloomberg) -- Singapore LNG Corp., the operator of the Southeast Asian country’s first liquefied natural gas receiving and exporting terminal, appointed John Ng to succeed Neil McGregor as chief executive officer.

McGregor, who will become a non-executive director, is being replaced in a planned succession, the company said in an e-mailed statement today. Ng, previously chief executive of electricity retailer YTL PowerSeraya Pte, will join SLNG as CEO-designate Dec. 1.

SLNG was formed in June 2009 by the Energy Market Authority, Singapore’s energy regulator, to own and operate the S$1.7 billion ($1.4 billion) terminal on Jurong Island. The company will be led by a new CEO as it begins discussions with contractors to expand the facility’s throughput capacity to 9 million metric tons a year.

An “expression of interest” has been issued to potential contractors and a final investment decision, including the awarding of work, is expected to take place early in the second quarter of 2014, according to the statement.

The LNG terminal started commercial operations in May with an initial regasification capacity of 3.5 million tons a year. This will increase to 6 million tons by the end of 2013 after a third storage tank and additional facilities start up.

To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editors responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net Yee Kai Pin

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