What Happened?
New York, NY-based Penn-America-Energy Appointed Craig Webster as Executive Vice President Capital Markets and Chief Sustainability Officer
About the Company
Penn America Energy (PAE) is a project-development company proposing an LNG export facility on Pennsylvania`s Delaware River. Called Penn LNG, this facility would export chilled natural gas (6.5 million tonnes annually) and be a "first" for Pennsylvania, with many advantages. The unique location of this project distinguishes Penn LNG in two cost-competitive ways. First, it is closer (within 100 to 300 miles) of the vast, low-cost Marcellus and Utica natural gas resources. And second, compared to U.S. Gulf Coast projects, it offers shorter shipping distances to Europe and many other key world LNG markets. The Delaware River ship channel has just been deepened, to enable the region`s full participation in global marine commerce. Started by a native of Pennsylvania, PAE is a team of experienced global commodity and energy professionals. We came together as a company in 2015. Our goal was to unlock more value from Pennsylvania`s newfound natural gas bounty, to benefit our investors and the communities where we would operate. Our No. 1 commitment is to plan, build and operate a facility that is safe, environmentally responsible and directly benefits the local community. The project has an eight-year timeline, including three years of comprehensive public participation and regulatory review. With startup slated for 2024, the Penn LNG project is well timed to commence LNG deliveries when global supply and demand are expected to rebalance. We are currently raising development funding for this project. We think Penn LNG offers an outstanding opportunity for investors, the Commonwealth of Pennsylvania and the local community. Learn more about the PAE team, our project and our commitment to safety, environment and the community at our company website.
About the Person
Craig Webster is Executive Vice President Capital Markets and Chief Sustainability Officer at Penn America Energy. Previously, Craig held various senior HR leadership roles in the industry.
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