Prieto’s new plate

Heading Atlantic LNG should not prove to be too much of a challenge for the 52-year old Argentinean, who as President of BG Egypt oversaw the construction, commissioning and successful operation of the first two trains of Egyptian LNG, all achieved in record time. Prieto who joined BG Egypt in April 2004 will replace American Rick Cape who has been the CEO of Atlantic LNG for over four and half years and oversaw the construction of the additional LNG processing trains two, three and four.

Prieto, who graduated as an Electrical Engineer at the Universidad Nacional de Rosario in Argentina says in his Curriculum Vitae (CV) that he possesses deep experience in building teams and driving performance in multi-cultural, operational, producing and developing assets. He has a strong safety focus and knowledge combined with a proven track record of delivering stretch targets in challenging joint venture environments. He also has extensive experience in negotiations with regulators, government bodies, joint venture organisations and dealing with multiple partner issues involving downstream, midstream and upstream businesses.

Prieto joined the BG Group in December 1998 as a New Business Director for the Southern Cone and by May of the following year, was appointed president of Comgas to manage the transition from public to private ownership of Brazil’s largest gas distribution company.

Under his watch as president, BG Egypt, Egyptian LNG’s s two trains which are of the same design as Atlantic LNG trains two and three were completed in record time.

The first LNG cargo from Egyptian LNG Train one was lifted in May 2005, some three months ahead of schedule. Train two commenced LNG production in September 2005, some nine months ahead of schedule. BG Egypt is the company through which BG operates its assets in Egypt. BG Egypt represents some 20 percent of BG Group’s production and gross profits. BG’s main assets in the country comprise the Egyptian LNG (two trains of 3.6 mty), Nile Valley Gas Co. (LDZ) with 17,500 customers, Rashpetco/Burullus upstream assets where BG is operator with a production rate of 2.5 bcf/d where half dedicated to the domestic market and half to exports. At BG Egypt, Prieto was responsible for general management of the overall performance for the company’s upstream and midstream assets including strategy, governance, HSSE, financial controls and corporate responsibility issues.

In particular, he was responsible for safety management, improvement and performance; development of bids for new upstream concession areas; exploration of new areas; new business development eg bid round participations for new acreage, regional plays (Gaza, Saudi Arabia), acquisitions and farm-ins and new LNG train developments.

Responsibilities also included negotiations with the Egyptian government and its associated companies; BG partnerships with associated management structures and interfaces include: Upstream: Partners are: Edison, Petronas and EGAS/EGPC; Egyptian LNG: Partners are: Petronas, EGAS/EGPC and Gaz de France and Downstream: Partners are Edison, Orascom and Delta.

As for his major achievements, Prieto lists them as establishing a strong safety culture through the adoption of behavioural-based safety; establishment of a performance contract culture in the Egyptian assets with a robust follow-up system that has delivered tangible results in performance improvement and start-up production of upstream fields and Egyptian LNG Train one & two Train two ahead of schedule and within budget.

Achievement also include negotiating further volumes for domestic gas contracts of approximatley1.2 bcf/d; completion of contract for the tolling of 275 mcf/d of gas through the Damietta LNG Plant (Union Fenosa and ENI) with BG and Petronas lifting the corresponding LNG production; completing the diversion of one third of the Train one volumes from France to the US and other un-capped markets and acquiring two new upstream concession areas (a third pending final award soon).

He also highlights his other achievements as settling issues with the Egyptian government through thorough engagement, robust approach to agreements, side letters and cost recovery mechanisms; secured LNG pre-commissioning (pre-start-up) cargoes for BG/Petronas; completing the financing of Egyptian LNG Trains one and two; developing a plan for nationalisation of key positions in the organisation focused on up-skilling, hiring, developing and retaining local talent and leading an excellent Asset Integrity Review process in the Upstream JOC.

Prior to taking up the top job at BG Egypt, Prieto was president of Comg?s, a gas distribution business from 1999-2004. The S?o Paulo-based G?s Company was privatised in April 1999 and control was assumed by a consortium where BG was Operator with 60 percent interest, Shell — 19 percent interest, and the remaining interests held on the Brazilian Stock Exchange.

Comgas serves almost 500,000 customers with annual sales of about US

$500 million and growing at rates of over 30 percent per annum. Prieto looked after the company from privatisation until the successful completion of the first Regulatory Review. He previously worked as New Bus-iness

Director for British Gas in the Sou-thern Cone, developing new projects including Indepen-dent Power Prod-ucer Power plants, gas transportation pipelines, trading and brokering activities and acquisitions.

Prieto also worked with the AES Corporation in Rio de Janeiro, Brazil and DOW Chemical company.