Barossa Gas Project: The Barossa Gas Project is 80% complete, with first gas expected in Q3 2025. The Gas Export Pipeline connecting the field to Darwin LNG has been completed. The Floating Production, Storage, and Offtake (FPSO) vessel is expected to arrive in Australia in Q1 2025. Three development wells have been drilled, with the third well showing a deliverability approximately 20% higher than expected. East Coast LNG (GLNG): GLNG is projected to deliver approximately 6 million tonnes per annum (Mtpa) of LNG in 2024. Record production levels were achieved in the first half of 2024. Horizontal drilling in the Arcadia Valley has increased productivity, enabling longer wells. PNG LNG: The PNG LNG project maintained steady production, despite natural decline in the Hides field and planned maintenance activities. The Angore project is expected to start supplying gas to PNG LNG in Q4 2024. High operational reliability was reported for the PNG LNG infrastructure. Darwin LNG and Bayu-Undan: The Darwin LNG facility is being refurbished in preparation for processing gas from the Barossa project. The Bayu-Undan field continued supplying gas to the Northern Territory domestic market beyond its expected field life. 

On July 15, 2024 EnergyQuest released their Australian LNG Monthly Report – June 2024. Overview data for July 2024 is below. Information about the EnergyQuest Australian LNG Monthly is available by clicking here . Australian LNG Imports Outlook Positive Progress for LNG Terminals: NSW: Squadron Energy’s Port Kembla Energy Terminal could supply the east coast by winter 2025 if immediate action is taken by the government, with winter 2026 being more likely based on market feedback. Victoria: Viva Energy has updated its environmental studies for its LNG import project at Geelong Refinery. Monthly Statistical Summary Annual Shipment and Revenue: FY 2023-24: 81.7 Mt of LNG shipped, $69.5 billion in revenue. FY 2022-23: 81.9 Mt of LNG shipped, $92.2 billion in revenue. FY 2021-22: 82.5 Mt of LNG shipped, $70.6 billion in revenue. June 2024 Revenue and Shipments: June revenue: $5.66 billion (up from $5.47 billion in May 2024). Annualized shipments for June 2024: 81.5 Mtpa (compared to 81.1 Mtpa for 2023 and 75.3 Mtpa for May 2024). June 2024 shipments represented 92% of nameplate capacity. Regional Revenue Breakdown: WA projects: $3.38 billion. Queensland projects: $1.66 billion. NT projects: $0.62 billion. Gas Flows and Market Dynamics Record Gas Flows from Queensland: Reached 428 TJ/d on 13 June, a record daily rate since January 2020. Indicates operational additional pipeline capacity. Support for Gas-Fired Power Generation (GPG): Increased 93% in June 2024 compared to June 2023 due to a ‘wind drought’ and lower solar production in winter. Resulted in a 19.7% increase in spot market gas prices compared to May 2024 and 29.7% compared to June 2023. Average spot price in June 2023 was $15.98/GJ, 33% above the $12/GJ government cap. Northern Gas Pipeline: No flow from NT to Queensland in June and May. Blacktip issues led to substantial support from Darwin’s two LNG projects into the NT domestic market. Darwin LNG averaged 16 TJ/d to the domestic NT market (25% of the NT average annual demand rate for 2023). No gas flows noted from Ichthys.

Transaction Overview Announcement Details Honeywell to acquire Air Products' LNG process technology and equipment business Acquisition cost: $1.81 billion in an all-cash transaction Transaction represents approximately 13x estimated 2024 EBITDA Expected to close before the end of the calendar year, pending customary conditions and regulatory approvals Strategic Benefits Enhances Honeywell's energy transition capabilities Creates an end-to-end offering for energy transformation Integrates natural gas pre-treatment and liquefaction with Honeywell's digital automation technologies Expands Honeywell's portfolio in aftermarket services and software Financial Impact Expected to be immediately accretive to Honeywell's sales growth and segment margin Expected to be accretive to adjusted EPS in the first full year of ownership Fourth acquisition by Honeywell this year as part of its capital deployment strategy Air Products Focus Air Products to focus on its core industrial gas business and related technologies Emphasis on clean hydrogen projects for industrial and heavy-duty transportation sectors Market Insights LNG market has quadrupled over the past 20 years and is expected to double in the next two decades Demand driven by key end markets including power and data centers Leadership Statements Vimal Kapur, Chairman and CEO of Honeywell, highlights natural gas as a critical transition fuel Ken West, President and CEO of Honeywell's Energy and Sustainability Solutions, emphasizes the integration of the acquired team and technologies Seifi Ghasemi, Chairman, President and CEO of Air Products, reiterates the company's focus on core industrial gas business and clean hydrogen Business Details Air Products' LNG Business has approximately 475 employees Headquarters in Allentown, Pennsylvania 390,000-square-foot manufacturing facility in Port Manatee, Florida Company Profiles Honeywell Integrated operating company Aligned with megatrends: automation, future of aviation, energy transition Offers solutions through Aerospace Technologies, Industrial Automation, Building Automation, Energy and Sustainability Solutions Air Products World-leading industrial gases company Focus on sustainability with core industrial gases and clean hydrogen projects Fiscal 2023 sales of $12.6 billion, operating in 50 countries with a market capitalization over $50 billion

Glenfarne Energy Transition Has Announced Texas LNG Has Signed an LNG Offtake Agreement with an Affiliate of Top Tier Market Participant Key Points: Agreement Signed: Texas LNG Brownsville LLC ("Texas LNG") has signed a non-binding Heads of Agreement ("HOA"). The agreement is with an affiliate of a top-tier credit-rated market participant. The agreement is for a long-term LNG free-on-board ("FOB") sale and purchase agreement ("SPA") for 0.5 MTPA of LNG. Texas LNG Overview: Texas LNG is a 4 MTPA LNG export terminal. Located in the Port of Brownsville, Texas. Subsidiary of Glenfarne Energy Transition, LLC. Leadership Statement: Brendan Duval, CEO and Founder of Glenfarne Energy Transition and Co-President of Texas LNG: "This agreement positions Texas LNG on the verge of full sell out, and we look forward to finalizing our offtake partnerships in the near future." Project Status: Texas LNG is in advanced negotiations with several potential offtakers for the remaining volume. Construction scheduled to begin later in 2024. Commercial operations scheduled to commence in 2028. Glenfarne Energy Transition: Developer, owner, and operator of energy transition infrastructure. Majority owner and managing member of Texas LNG. Portfolio includes the 8.8 MTPA Magnolia LNG export facility in Lake Charles, Louisiana. About Texas LNG: Facility: 4 MTPA LNG export facility. Located in the Port of Brownsville, Texas. Aims to be one of the cleanest, lowest emitting LNG export facilities globally. Utilizes electric motor drives. About Glenfarne Energy Transition, LLC: Parent Company: Glenfarne Group. Headquarters: New York City and Houston, Texas. Offices: Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; Seoul, South Korea. Core Businesses: Global LNG Solutions. Renewables. Grid Stability. Operations: Develops, acquires, manages, and operates energy infrastructure assets in North and South America.

Overview Vitol announced today the company has secured three LNG Bunkering Vessels (LNGBV) through its shipping company, Vitol International Shipping Pte Ltd (VIS). Agreement Details: Partner: Avenir LNG Limited (Avenir) Shipyard: CIMC Sinopacific Offshore & Engineering Co. Ltd in Nantong, China Time Charter: Seven to ten years Details of the Agreement Vessels Secured: One newbuild 20,000m3 LNGBV through a time charter agreement with Avenir. Time charter starts in Q4 2026 for seven years, with options to extend up to ten years. Ordered one 12,500 m3 LNGBV and one 20,000 m3 LNGBV from CIMC SOE shipyard. Deliveries in Q4 2026 and Q3 2027 respectively. Environmental Benefits LNG Advantages: Reduces environmental footprint at competitive prices. Bio-LNG blending offers long-term compliance with stringent emission regulations. Vitol’s Statement Mr. Pablo Galante Escobar (Head of LNG, EMEA gas & power, Vitol): Emphasized the global need for shipowners to reduce emissions. Highlighted Vitol's commitment to investing in LNG/bio-LNG bunkering. Vitol’s LNG Background Experience: 20 years of LNG trading. Global Presence: Traded over 17 million tonnes of LNG worldwide last year. Subsidiaries: ViGo bioenergy (bio-LNG infrastructure). Vitol Bunkers (bunker fuels). Capabilities: Multi-fuel and decarbonization solutions. Range: Conventional marine fuels, biofuels, LNG & bio-LNG, and methanol. Summary Vitol is significantly enhancing its LNG bunkering capabilities to meet environmental standards and support shipowners globally in reducing emissions.

Segment Overview: 1. Cryo Tank Solutions (CTS) Orders: Q1 2024 orders amounted to $159.3 million, marking a decrease of 4.5% year-over-year, primarily due to a significant rail car order in Q1 2023. Sales: Sales increased by 13.2% to $159.7 million, driven by rising demand in the EMEA industrial gas market. Book-to-Bill Ratio: Maintained at 1.0X, reflecting steady demand. Gross Profit Margin: Slightly decreased by 10 basis points to 20.5%. 2. Heat Transfer Systems (HTS) Orders: Experienced a significant decrease of 29.8% to $237.3 million, compared to the prior year, influenced by high project bookings in earlier periods. Sales: Increased by 33.9% to $253.6 million. Backlog: Stood at $1.69 billion as of March 31, 2024, excluding expected bookings from the IPSMR® BigLNG award. Gross Profit Margin: Improved by 160 basis points to 27.6%. 3. Specialty Products Orders: Saw a robust increase of 39.2% to $391.3 million. Sales: Increased by 5.5% to $236.5 million, influenced by project timing and pre-production activities for Teddy2. Sequential Growth: Sales grew by 10.2% from Q4 2023. Gross Profit Margin: Decreased to 24.9%, impacted by project mix and a first-of-a-kind project. 4. Repair, Service and Leasing (RSL) Orders: Reached a record $333.9 million, up 10.5% year-over-year. Sales: Increased by 13.9% to $301.0 million. Gross Profit Margin: Significantly increased by 1,450 basis points to a record 46.7%, reflecting high profitability in this segment.

On April 24th, 2024 the U.S. Department of Energy released the U.S. Natural Gas Imports and Exports Monthly which covered February 2024. Overview summary from that report is below. In February 2024, the United States exported a total of 643.0 billion cubic feet (Bcf) and imported 268.3 Bcf of natural gas, resulting in 374.7 Bcf of net exports. The significant proportion of exports was in the form of LNG. U.S. LNG Exports The United States exported 358.9 Bcf of LNG, constituting 55.8% of total natural gas exports for the month. This LNG was distributed among 30 countries across different regions: Europe received the largest share with 234.4 Bcf (65.3%), Asia received 100.8 Bcf (28.1%), Latin America/ Caribbean received 23.7 Bcf (6.6%). The export trends showcased a 9.4% decrease from January 2024 but a 10.0% increase from February 2023. The top five destination countries accounted for 48.0% of the total U.S. LNG exports. These countries were: France: 49.4 Bcf (13.8%), Netherlands: 45.5 Bcf (12.7%), United Kingdom: 34.1 Bcf (9.5%), Japan: 22.8 Bcf (6.4%), Turkiye: 20.5 Bcf (5.7%). U.S. Natural Gas Trade with Neighboring Countries Mexico : The U.S. exported 169.5 Bcf to Mexico while importing less than 0.1 Bcf, resulting in net exports of 169.5 Bcf. Canada : The U.S. exported 114.5 Bcf to Canada but imported a higher volume of 265.6 Bcf, leading to net imports of 151.1 Bcf. This interaction with Canada represented a 35.6% decrease from January 2024 and a slight 1.2% decrease from February 2023. The complete PDF U.S. Natural Gas Imports and Exports Monthly February 2024 report is here .

On March 25th, 2024 the U.S. Department of Energy released the U.S. Natural Gas Imports and Exports Monthly which covered January 2024. Overview summary from that report is below.

Strategic Alliance: Parties Involved: WhiteWater, I Squared, MPLX LP, and Enbridge Inc. have entered into a definitive agreement for a strategic combination of pipeline assets. Transaction Details: The strategic combination involves the Whistler and Rio Bravo Pipeline projects merging into a joint venture. Ownership Post-Transaction: Post-transaction ownership stakes are WhiteWater/I Squared at 50.6%, MPLX LP at 30.4%, and Enbridge Inc. at 19.0%. Operational Control: WhiteWater will continue to operate the combined assets of the joint venture, including the Rio Bravo Pipeline project. Pipeline Infrastructure: Whistler Pipeline: The Whistler Pipeline, with a capacity of approximately 2.5 billion cubic feet per day, extends about 450 miles and comprises a 42-inch diameter pipeline transporting natural gas from the Permian Basin to Agua Dulce, Texas. Rio Bravo Pipeline: Owned by Enbridge, intended to connect with the Rio Grande LNG facility in Brownsville, Texas, enhancing the export capabilities of the joint venture. Infrastructure Details: The Whistler system includes a significant lateral pipeline extending 85 miles and 36 inches in diameter, targeting the Midland Basin. Expansion Prospects: The joint venture aims to support the development of additional pipeline projects to connect Permian supply with Gulf Coast export markets. Market Implications: LNG Export Enhancement: The strategic combination aims to connect Permian Basin supply with increased LNG export capabilities through the Gulf Coast. Strategic Partnerships: Collaboration with NextDecade's Rio Grande LNG project signifies a crucial market expansion for gas from the Permian Basin. Customer Base Expansion: The transaction is expected to offer substantial benefits to customers by providing improved connectivity to LNG export facilities. Industry Positioning: Enhances the joint venture's ability to meet growing demands for natural gas in the LNG export market. Financial Aspects: Enbridge's Contribution: Enbridge's contribution includes the Rio Bravo Pipeline project and approximately US$350 million in cash to the joint venture. Economic Interests: Beyond its 19% stake in the joint venture, Enbridge will maintain a 25% economic interest in the Rio Bravo Pipeline, subject to redemption rights of the partners. Investment Strategy: The strategic transaction aligns with MPLX's growth strategy, linking wellhead-to-water natural gas supply chains. Capital Efficiency: The deal is structured to optimize investment and capital efficiency for the involved parties, particularly Enbridge. Operational Forecast: Expected Transaction Closure: Anticipated to close in the second quarter of 2024, pending necessary regulatory approvals and fulfillment of customary closing conditions. Future Infrastructure Developments: The joint venture is positioned to foster the development of additional pipeline projects, enhancing the overall infrastructure and capacity for LNG exports. Industry Impact: Infrastructure Enhancement: The strategic combination significantly strengthens the infrastructure network for transporting natural gas to LNG export terminals along the Gulf Coast. Growth and Expansion: The partnership is set to unlock potential for future capacity expansions and meet the increasing natural gas demand for Gulf Coast LNG facilities. Strategic Positioning: Solidifies the joint venture's role in supporting the LNG export market and aligns with broader industry trends of increasing LNG export capacities from the U.S.