Golden Pass acknowledges the court's approval of the interim order associated with Zachry Holdings, Inc.'s motion in bankruptcy court. This allows Golden Pass and our construction contractors McDermott and Chiyoda to ramp up site construction activities and progress our LNG terminal. Going forward, we are focused on getting people back to work, including local workers and vendors, and progressing this critical energy project. We are committed to a safe and successful completion of this world class facility.

Golden Pass LNG acknowledges the bankruptcy filing by Zachry Industrial, Inc., a party to the EPC contract for construction of our LNG terminal. Work continues on the project with McDermott and Chiyoda, the other two parties to the EPC contract. The project is already 75% progressed and we are committed to completing the project.

Golden Pass LNG is proceeding at pace with construction of our LNG export facility, targeting 1H2025 first LNG from Train 1. Golden Pass LNG continues to work toward a safe and successful project start up. We have roughly 9,000 construction workers dedicated to this effort in addition to the tireless efforts of Golden Pass staff and shareholders.

Golden Pass LNG today received authorization from the U.S. Department of Energy to export up to 18.1 million tonnes per annum of LNG to non-Free Trade Agreement Countries. This authorization secures the ability to send more gas to non-FTA countries, strengthening U.S. trade and enhancing energy security for our allies.

“We appreciate the DOE granting the authorization to sell our full production capacity of 18.1 MTA to non-FTA countries,” Sean Ryan, President and CEO of Golden Pass LNG, said. “This maximizes our opportunity to bring clean energy from Texas to power the world.”

The order allows Golden Pass LNG to export a total of 18.1 MTA to non-FTA Countries, an increase of 2.5 MTA from DOE’s original non-FTA authorization for the project. The order aligns the project’s export authorizations to additional capacity that the Federal Energy Regulatory Commission approved in 2021. This request from Golden Pass LNG was driven by production efficiencies identified within the existing design of our export facility under construction in Sabine Pass, Texas.

Golden Pass LNG is progressing construction of a $10 billion project to add natural gas liquefaction and export facilities adjacent to its existing LNG terminal in Sabine Pass, Texas. There are approximately 4,000 workers currently on site. Foundation, steel erection, piping and vessel/equipment setting is ongoing. The first of three LNG production trains is expected to start up in 2024.

Golden Pass has executed a series of long-term gas supply transactions, and continues to focus on securing remaining supplies needed to meet its requirement of 2.6 billion cubic feet per day of natural gas. Once operational, Golden Pass LNG will be one of the largest buyers of natural gas in the United States.

An initial assessment of the Golden Pass LNG site near Sabine Pass, Texas revealed no significant storm-related impacts. Most importantly, all Golden Pass personnel and support staff are safe and accounted for. There were no environmental releases or significant asset damage at the construction site.

We are conducting more thorough safety assessments of the site and pipeline and are planning to resume construction activities pending the outcome of those assessments.

We are working closely with local emergency response officials and providing support as requested for our neighbors and community. We are thankful for our positive status and send our thoughts and prayers to those more significantly impacted by the storm.

Safety is a core value at Golden Pass and that a means we touch safety on many fronts. As you are aware, we are an active construction site, so our hurricane preparation actions are falling into three broad buckets: planning, limiting personnel and securing the site.

Planning: We are holding twice daily incident management team meetings reviewing storm status, going through or response checklists, and reviewing near term plans. We are fully aligned with Golden Pass and our Engineering, Procurement and Construction contractor CCZJV (Chiyoda, McDermott and Zachry) leadership.

Limiting personnel: We have been communicating internally detailing instructions for the week ahead. We have a skeleton crew of essential personnel on site today completing storm preparation. We’ve updated our plans since the evacuation order this morning (Tuesday). We are not going to have anyone on site during the storm, so everyone is being sent home. We are planning to close the site on Tuesday and Wednesday (and possibly Thursday depending on Hurricane Laura’s impact). Since the storm’s impact is yet to be determined, we can’t estimate the post-event response yet.

Securing the site: We have conducted a series of actions to secure the site, including: clearing barges from the off-loading facility, lowering all of the piling rigs, closing all openings in the levee to ensure full enclosure around the site and preparing the shoreline protection by adding rock armoring.

Golden Pass LNG is pleased to confirm the signing of long-term and short-term natural gas supply agreements to support the LNG export facility that is currently under construction in Sabine Pass, Texas and scheduled to be operational in 2024. The long-term agreement with Williams Energy Resources, LLC was filed with the US Department of Energy in mid-May. While the terms of the agreements are confidential due to commercial sensitivity, they represent the first steps in the development of a 2.6 BCFD natural gas portfolio to supply the Golden Pass LNG export terminal. Once operational, the terminal will be one of the largest buyers of natural gas in the United States.

The Golden Pass LNG commercial team is actively engaged in negotiating and securing long-term natural gas supply agreements for the LNG manufacturing and export facility. Golden Pass’ supply requirements create immense opportunity to enhance U.S. energy infrastructure and strengthen domestic gas production in the U.S.

Golden Pass has also executed contracts for firm transportation service for about half of its needed supply and is evaluating additional supply pipeline opportunities in order to meet its full anticipated demand needs of up to 2.6 BCFD.

What are the terms of the long-term supply agreements?
Due to the commercial sensitivity of these agreements, the terms of the agreements are confidential.

Are you still buying gas? How much will you eventually buy?
These are the first steps in a marathon to complete agreements for 2.6 bcf/d of long-term natural gas supply to support our LNG export facility.

I understood that you were buying gas only from suppliers affiliated with your shareholders, ExxonMobil and Qatar Petroleum. Is that the case?
No, Golden Pass will be buying gas from a wide range of quality partners.

On April 25, 2017 the U.S. Department of Energy issued authorization to Golden Pass Products to export LNG to non-Free Trade Agreement (NFTA) nations. In combination with the previously issued Free Trade Agreement authorization, the NFTA authorization will enable Golden Pass Products to export LNG to the market worldwide.

This achievement reflects years of effort in advancing the proposed Golden Pass export project, setting the stage to help meet the world’s growing need for clean energy.

The project is now focusing on bringing together the remaining elements to position for the opportunity.

The NFTA authorization can be found on the DOE website using this link.

In May 2016, Golden Pass Products issued invitations to prospective EPC contractors to tender bids for the proposed 15.6 MTA LNG liquefaction expansion project in Sabine Pass, Texas.

This is a significant milestone in the progression of the GPP project.