Michael-Smith-CEO-Freeport

Michael S. Smith

Chairman and CEO,
Freeport LNG Development

Michael Smith founded Freeport LNG Development, L.P (see the company description below) in 2002 and is the company’s Chairman and Chief Executive Officer.

Mr. Smith previously founded Basin Exploration, Inc. in 1981 and served as its Chairman of the Board, Chief Executive Officer and President.  Basin was a publicly traded oil and gas company active in the Gulf of Mexico and the Rocky Mountain Region.  Basin had over $125 million in revenues and $100 million in cash flow for its last fiscal year in 2000.  Mr. Smith successfully negotiated the sale of the company to Stone Energy in February 2001 in a $410 million stock for stock merger.  Mr. Smith was past president of the Colorado Oil & Gas Association.

Mr. Smith has a long history of philanthropy in Denver, Colorado.  He currently serves on the Board of Directors for National Jewish Medical Research Center as a National Trustee and gave the lead donation to the “Iris and Michael Smith Clinics and Laboratories” building which was dedicated in 2007.  Before moving from Colorado, Michael Smith was a director of Colorado Ocean Journey and the Development Council of Colorado State University.  Colorado State University honored Michael Smith in May of 2008 by bestowing upon him an Honorary Doctor of Humane Letters, Honoris Causa.  He was previously a member of the State of Colorado Governor’s Minerals, Energy & Geology Policy Advisory Board, and served as Finance Chairman for Senator Ben Nighthorse Campbell’s successful 1992 U.S. Senatorial Campaign. 

Mr. Smith is married with two adult daughters, is a big sports fan, and continues to enjoy skiing, golf and scuba diving.

Company Overview:  Freeport LNG Development, L.P. owns and operates an LNG receiving terminal on Quintana Island, near Freeport, Texas.  The receiving terminal went into commercial operation on June 12, 2008 and is capable of receiving and vaporizing over 2 billion cubic feet per day (gas equivalent) of LNG.  In November, 2014, Freeport LNG started construction on facilities to allow for the receipt, liquefaction and delivery of domestic natural gas.  The Liquefaction Project is comprised of three natural gas liquefaction trains (with a fourth train under development). Each train will have an annual production capacity of approximately 5.0 million metric tonnes per annum of LNG, or approximately 2 Bcf/d of natural gas. Freeport LNG will build, own and operate the liquefaction facility and provide liquefaction and export services to its customers under Liquefaction Tolling Agreements.  Freeport LNG’s existing customers are Osaka Gas Co., Ltd., Chubu Electric Power Co., Inc., BP Energy Company, Toshiba Corporation and SK E&S LNG, LLC.  Commercial operation is expected in mid-2018.

The Limited Partners (who hold 100% of the economic interest in the Partnership) are Michael Smith (63.5%); Global Infrastructure Partners (25.7%); and Turbo LNG, LLC, a subsidiary of Osaka Gas Company, Ltd. (10.8%).  The Partnership is managed by its General Partner, Freeport LNG-GP, Inc., which is wholly-owned by Michael Smith.

Michael S. Smith is a speaker at the Oil and Gas Councils North America Assembly, click here for more information

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