LONDON (ShareCast) - (Sharecast News) - Natural gas storage firm Infrastrata on Wednesday appointed John Wood to the role of chief operating officer and Andy Duncan as chief financial officer, a non-board position.
Wood will assume primary responsibility for all operational areas of the company's Islandmagee Project, including the Front End Engineering and Design (FEED) programme, having spent recent months working with Infrastrata in a consulting role.

The programme is for the development of a gas storage facility in an island cave system.

Wood is experienced in the oil and gas industry, having recently worked as global head of oil and gas at global engineering and advisory organisation Aurecon, and has held senior posts with BAE Systems.

New chief financial officer Andy Duncan has spent over 11 years working in oil and gas finance, working for Bank of America Merrill Lynch, the Royal Bank of Scotland and Halifax Bank of Scotland.

Additionally, Duncan was "instrumental" in securing the financing to begin the FEED programme, according to Infrastrata.

Adrian Pocock, chief executive of InfraStrata, said: "John and Andy have been working with us over recent months and they have already demonstrated a real dedication to the Islandmagee Project and have produced excellent results. They will both be invaluable to the success of the company and strengthen the board and executive team to a level that is appropriate for the company's stage of development."

Further to the new appointments, the company announced that non-executive director Karen Campbell will step down with immediate effect having decided to dedicate her time to alternate advisory projects.

"The board is very grateful to Karen for her dedication to the Islandmagee Project and wishes her every success in the future," said Pocock.

As of 0912 BST, Infrastrata's shares were up 8.24% at 0.46p.

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