PITTSBURGH, Nov. 16, 2001 — CONSOL Energy Inc. has named James C. Grech as Vice President-Business Development.
Grech is responsible for identifying opportunities to further develop and expand CONSOL Energy’s gas segment.
CONSOL Energy is one of the largest U.S. producers of coalbed methane, with current daily production of 130 million cubic feet and proved developed and undeveloped reserves of 1.2 trillion cubic feet. CONSOL Energy’s gas operations are primarily located in Virginia, but the company recently has begun coalbed methane production in other parts of the Appalachian Basin. CONSOL Energy’s gas production in 2002 is forecast to reach 50 billion cubic feet, an increase of more than 230 percent in three years.
“Our goal is to become a energy supplier of gas, coal and power in the northeastern quadrant of the United States within five years,” said J. Brett Harvey, president and chief executive officer. “Jim will play a key role in expanding our gas position beyond what we have done already.”
In addition to analyzing potential business opportunities, Grech is responsible for the negotiation and administration of gas sales contracts, and for risk management activities related to gas.
“As our gas segment continues to expand,” Harvey said, “we will need to become increasingly sophisticated in managing price volatility and in managing the synergies between coal and gas, the fuels that produce two-thirds of the electricity in the U.S.”
Grech previously worked for Michigan power generator DTE since 1985, most recently as Vice President of Marketing for DTE Coal Services and Manager of Business Development and Administration, Fuel Supply. In those positions he was responsible for gas, coal, oil, rail and vessel procurement, sales and marketing, and cross-commodity (gas, coal, power) arbitrage. He also participated in the installation of risk management programs for DTE’s subsidiary, Detroit Edison.
Grech holds a Bachelor of Science degree in electrical engineering from Lawrence University, and a Master’s degree in business administration, majoring in finance, from the University of Michigan.
He and his wife Sandy are the parents of Andrew, 13, and Sarah, 10. The family is relocating to Peters Township, Pa.
In addition to its coalbed methane operations, CONSOL Energy is the largest producer of high-Btu bituminous coal in the United States, and the largest exporter of U.S. coal. CONSOL Energy has 26 bituminous coal mining complexes in seven states and two Canadian provinces. CONSOL Energy had revenues of $2.4 billion during the fiscal year ended June 30, 2001. Additional information about the company can be found at its web site: http://www.consolenergy.com.