JGC Corp. of Japan, one of the leading global energy engineering companies with successful project completions such as Ichthys LNG in Australia and the Russian Yamal venture, has named its senior executive teams in an overhaul to create a holding company and separate new divisions.
JGC explained that it was changing its structure to become a holding company with tighter management to help alleviate the risk factors in the business.
The new corporate structure will come into being at the start of October 2019.
The increasing values of LNG plant construction contracts, running into billions of dollars, are raising the threshold of corporate risk
JGC’s current business is centered on engineering, procurement and construction (EPC) in the overseas oil and gas sector, and the company is dependent on the success or failure of projects in this field.
Its new structure will be overseen by JGC Holdings, and with other subsidiaries being JGC Corp. JGC Oil & Gas and JGC Infrastructure Company.
Senior executives have now been named for the overhauled company.
JGC Holding Corp. will have Masayuki Sato as Chairman and Chief Executive and Tadashi Ishizuka will be President and Chief Operating Officer.
JGC Corp. executive officers are President Tetsuya Muramoto and the Senior Executive Vice President is Tsutomu Akabane.
The Oil & Gas project company will be headed by Satoshi Sato, the current Executive Vice President of JGC Corp.