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Crown LNG Holdings (NASDAQ: CGBS) has appointed Andrew Judson as Chairman of the Board, effective August 2, 2024. Judson replaces Jørn Husemoen, who will continue as a Board member and CFO. Judson, an independent director since July 2024, brings extensive experience in finance and energy sectors. He currently serves as a Senior Advisor at Fort Capital and has held leadership positions at Camcor Partners and FirstEnergy Capital. Judson also serves on the boards of Pieridae Energy and Condor Energies Inc.
Crown LNG, a provider of LNG terminal technologies for harsh weather locations, views this appointment as strategic for navigating complex financial and geopolitical landscapes as they begin their journey as a public company. The company aims to leverage Judson's expertise to execute their growth strategy effectively.
Crown LNG Holdings has selected IKM Engineering & Environmental Consultants as its partner for the design and engineering of a planned floating LNG import terminal in the Firth of Forth, Scotland. This marks a significant step towards the Final Investment Decision (FID) for the Grangemouth project, targeted for late 2024. The project aims to enhance the UK's energy security, addressing increased LNG imports and geopolitical impacts on energy markets.
IKM's role will encompass Pre-FEED and FEED phases, including project management, execution planning, consenting, process design, facility layout optimization, detailed engineering, and procurement support. The project will utilize floating storage and regasification unit (FSRU) technology. A site study has been completed, and Crown will proceed with the consenting process with Scottish and UK Governments.
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