The US Gulf Coast is probably the only place in the world where two men with virtually no experience running an energy business could upend a vast industry while becoming billionaires in the process.
Little more than a decade ago, ex-banker Mike Sabel and lawyer Bob Pender were driving across Texas in a rented Chevy to raise money for something that no global energy major, let alone a little-known startup like theirs, had ever pulled off: building a multibillion-dollar plant to liquify and export US shale gas.
In an industry dominated by supermajors and petrostates, the two outsiders realized their vision by navigating a complex landscape and seizing opportunities others overlooked. Their gamble on liquefied natural gas (LNG) has not only reshaped the market but also propelled them into the ranks of the ultra-wealthy.
For more detailed coverage, visit Bloomberg Law.