Reconstruction at Freeport LNG Liquefaction Nearly Completed

Freeport LNG Development, L.P. today provided an update on the ongoing reconstruction and resumption of operations at its natural gas liquefaction and LNG export facility. As of November 14^th, the reconstruction work necessary to commence initial operations, including utilization of all three liquefaction trains, two LNG storage tanks and one dock, was approximately 90% complete, with all reconstruction work anticipated to be completed by the end of November. Proposed remedial work activities for a safe restart of initial operations have been submitted to the relevant regulatory agencies for review and approval. Subject to Freeport LNG meeting its regulatory requirements, it is targeting initial production at the facility in mid-December.

Each of Freeport LNG's three liquefaction trains will be restarted and ramped up safely, in a slow and deliberate manner, with each train starting separately before restarting a subsequent train. It is expected that approximately 2 billion cubic feet (BCF) per day of production will be achieved in January 2023. Full production utilizing both docks remains anticipated to commence in March 2023.

"Our teams have worked diligently over the last several months alongside regulators to ensure the safe restart of our facility. I am immensely grateful for their efforts," said Michael Smith, founder, chairman and CEO. "We are committed to moving forward with an uncompromising safety focus and enhanced operational processes that will enable us to chart a safe, sustainable path forward to serve our customers and the broader LNG market as a whole."