FREEPORT LNG PROVIDES UPDATE ON INITIAL RESTART OF ITS LIQUEFACTION FACILITY

https://www.prnewswire.com/news-releases/freeport-lng-provides-update-on-initial-restart-of-its-liquefaction-facility-301682984.html

Nov 18, 2022, 11:55 ET

HOUSTON,?Nov. 18, 2022?/PRNewswire/ -- Freeport LNG Development, L.P. (Freeport LNG) today provided an update on the ongoing reconstruction and resumption of operations at its natural gas liquefaction and LNG export facility. As of?November 14th, 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 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."

?ABOUT?FREEPORT?LNG

Freeport LNG is an LNG export company headquartered in?Houston, Texas. The company's three train, 15 MTPA liquefaction facility is the seventh largest in the world and second largest in the U.S. Freeport LNG's liquefaction facility is the largest all-electric drive motor plant of its kind in the world, making it the most environmentally sustainable site of its kind. The facility's electric drive motors reduce carbon emissions by over 90% relative to gas turbine-driven liquefaction facilities.?Freeport?plans to expand by adding a fourth liquefaction train, which has received all regulatory approvals for construction.?Freeport?was formed in 2002 to develop, own and operate an LNG terminal on?Quintana Island, near?Freeport, Texas. The terminal started LNG import operations in?June 2008?and began LNG export operations in 2019. Further information can be found on?Freeport's?website at...

U.S. Gas Prices Jump As Freeport LNG Targets Full Restart In March 2023

https://oilprice.com/Latest-Energy-News/World-News/US-Gas-Prices-Jump-As-Freeport-LNG-Targets-Full-Restart-In-March-2023.html

U.S. natural gas prices surged on the news that one of the largest U.S. LNG export terminals is targeting a complete operational restart by March 2023.??

Freeport LNG, a major liquefied natural gas exporter in Texas, wrote in a?press release?that "it is targeting initial production at the facility in mid-December," with "full production utilizing both docks remains anticipated to commence in March 2023."?