Update on Freeport LNG restart

Freeport LNG Development, L.P. has completed a detailed assessment of alternatives for resuming operations at its liquefaction facility following the 8 June incident and has identified a recovery plan for the reinstatement of partial operations that it believes ensures the long-term safety and integrity of the facility, provides recovery execution certainty, and minimises procurement and performance testing risks. Although typical construction risks could impact the recovery plan, it is anticipated that initial production can commence in early to mid-November, and ramp up to a sustained level of at least 2 billion ft 3/d by the end of November, representing over 85% of the export capacity of the facility. The recovery plan will utilise Freeport LNG's second LNG loading dock as a lay berth until loading capabilities at the second dock are reinstated in March 2023, at which time the company anticipates will be capable of operating at 100% of its capacity.