February 26, 2019 / 5:28 PM / 8 months ago

LNG exporter Cheniere sues former CEO Souki

Feb 26 (Reuters) - Cheniere Energy Inc, the largest U.S. liquefied natural gas exporter, sued its former chairman and chief executive officer, Charif Souki, alleging he conspired to help finance a joint venture that led to the formation of rival Tellurian Inc.

Cheniere is seeking re-payment of a $46 million loan to Parallax Enterprises in 2015 that Souki helped arrange, according to a court filing dated Feb 15.

The lawsuit, filed in a Texas state court, claimed Parallax’s owner, Martin Houston, was Souki’s friend and that the two had formed Tellurian less than two weeks after his resignation from Cheniere’s board in 2016.

Souki, who resigned here amid pressure from Cheniere shareholder and activist investor Carl Icahn, is now chairman of Tellurian, which is developing a LNG plant in Louisiana.

Souki, Houston and Cheniere did not immediately respond to requests for comment. Tellurian declined to comment. (Reporting by Debroop Roy in Bengaluru; Editing by Shailesh Kuber)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below