Progress Energy announces senior management leadership changes

CALGARY, Oct. 3, 2016 /CNW/ - Mr. Anuar Taib, EVP and CEO PETRONAS Upstream and Chairman of the Board of both Progress Energy Canada Ltd. (PECL) and Pacific NorthWest LNG (PNW LNG) announced that Mr. Michael Culbert will step down from his day-to-day responsibilities as President and CEO of PECL effective October 31, 2016 as he begins to transition into retirement.

Mr. Culbert will continue to serve as a Director on the Boards of both PECL and PNW LNG, and has been appointed to the non-executive position of Vice Chairman for PECL. Mr. Culbert will continue to provide strategic counsel to the companies.

Mr. Mark Fitzgerald has been appointed President and CEO of PECL effective November 1, 2016 and will also serve as a member of the PECL Board. Mr. Fitzgerald has spent his career in the Canadian energy sector and brings the upstream natural gas expertise and leadership required to continue to move PECL forward as a leader in natural gas development with one of the largest natural gas holdings in Canada, including positioning PECL to supply natural gas to the proposed Pacific NorthWest LNG facility.

"On behalf of PETRONAS I want to thank Mr. Culbert for his years of leadership with Progress Energy. He was instrumental in developing the joint-venture partnership with PETRONAS and subsequent acquisition, while also significantly growing the company's production of natural gas in British Columbia," said Mr. Anuar Taib. "Mr. Culbert has also led and supported Pacific NorthWest LNG through the federal regulatory process, which recently culminated in the project receiving its environmental certificate." 

"I am confident that I am leaving Progress Energy in a solid position as a leading natural gas development company, which is well positioned with the technical expertise to deliver best-in-class performance as we move towards the development phase," said Mr. Culbert. "Over the last few years we have achieved several key milestones, including the establishment of 25 Trillion Cubic Feet (Tcf) of proven and probable reserves and 62 Tcf of total resources in the North Montney in support of the LNG project. With this high quality natural gas asset, I am confident that Mr. Fitzgerald and the entire management team will maintain Progress Energy's positive trajectory."

"As a senior member of Progress Energy Canada's management team, I believe in the exciting future that our company has and our ability to continue to deliver on our history of success. I look forward to assuming my new role and continuing to work with our dedicated staff while also building upon our relationships with government, First Nations and the communities in which we operate," said Mark Fitzgerald, incoming President and CEO, Progress Energy Canada.

About Progress Energy Canada Ltd.
Progress Energy Canada, a leader in Canadian natural gas development, is building upon its history of performance excellence in North America to pioneer new infrastructure for delivering LNG to Pacific Rim markets. Producing natural gas in northeast British Columbia and northwest Alberta, Progress Energy is serving Canadian markets and developing productive capacity on its extensive Montney land holdings in preparation for the opening of new LNG markets in Asia. Progress Energy is wholly owned by PETRONAS of Malaysia, a global leader in LNG and the majority owner of Vancouver-based Pacific NorthWest LNG Ltd. Progress and Pacific NorthWest LNG are helping craft a bright new future for Canada's energy exports. www.progressenergy.com

About Pacific NorthWest LNG
Pacific NorthWest LNG is planning to build a world-scale LNG export facility on Lelu Island in the District of Port Edward, British Columbia. The proposed facility will comprise an initial development of two LNG trains of approximately 6 million tonnes per annum (MTPA) each, and a subsequent development of a third train of approximately 6 MTPA. The proposed facility would liquefy and export natural gas produced by Progress Energy Canada in northeastern British Columbia. Pacific NorthWest LNG is committed to generating new economic and social benefits for the local community and First Nations, British Columbia and Canada in an environmentally safe and sustainable manner. Pacific NorthWest LNG is majority-owned by PETRONAS. JAPEX, Sinopec/Huadian, Indian Oil and PetroleumBRUNEI are also partners in Pacific NorthWest LNG and its associated natural gas supply. For more information about Pacific NorthWest LNG, please visit www.PacificNorthWestLNG.com.

SOURCE Progress Energy Canada Ltd.

Media Contacts: David Sterna, Director, External Affairs and Communications, Progress Energy Canada Ltd., Tel: [phone], Email: [email protected]; Spencer Sproule, Senior Advisor, Corporate Affairs, Pacific NorthWest LNG, Tel: [phone], Email: [email protected]