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Doug Shanda, vice president of operations at Cheniere Energy, interviewed the company's Sabine Pass LNG export terminal on Monday, April 3, 2017. The liquefied natural gas terminal shipped its 100th LNG tanker on Saturday, April 1, 2017.Doug Shanda, vice president of operations at Cheniere Energy, interviewed the company's Sabine Pass LNG export terminal on Monday, April 3, 2017. Liquefied Natural Gas Terminal … More
Photo: Ryan Pelham / The Beaumont Enterprise
Photo: Ryan Pelham / The Beaumont Enterprise
One of the chief executives of the Houston liquefied natural gas company Cheniere Energy was placed on a "garden leave" about three months before leaving.
Submitted to the US Securities and Exchange Commission Friday afternoon, Cheniere reported that Doug Shanda's senior vice president will leave the company on January 30.
The reason why Shanda left the company is unknown, but it is twisted. Cheniere put Shanda on a "garden leave" until January 30. That is, they do not work for the next three months and maintain their salary as if they are still there.
Under the split agreement signed between Shanda and the company, he is entitled to a 2019 performance bonus and stock award in addition to receiving $ 121 million in February.
As part of the agreement, Shanda has signed a non-competition that prohibits working for other LNG companies in the United States or Canada.
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Shanda has been with Cheniere since October 2012 and has helped develop the company's Sabine Pass LNG export terminal in Louisiana and Corpus Christi LNG export terminal in Texas.
For more than 25 years, veteran of the liquefied natural gas industry, Shanda worked for several years on the South American Peruvian LNG project before joining Cheniere.
Shanda is successful by Aaron Stephenson, who previously served as vice president and general manager of the company's Sabine Pass LNG export terminal.
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Founded in 1996 and based in Houston, Cheniere Energy employs nearly 1,400 people.
The company made $ 415 million in 2018 with $ 885 million in revenue.
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