News: ORG Origin Says LNG Vessel Power Outage

Nov 28 (Reuters) - BROOKFIELD ASSET MANAGEMENT LTD BAM.TO :

• LNG VESSEL POWER OUTAGE-ORG.AX
• LNG VESSEL POWER OUTAGE
• LOADED LNG VESSEL DOCKED AT AUSTRALIA PACIFIC LNG FACILITY ON CURTIS ISLAND HAS LOST POWER
• ONLY ONE LNG VESSEL IS ABLE TO DOCK AT LNG FACILITY AT A TIME
• COMMENCED TURNING DOWN PRODUCTION TO REDUCE FLOW OF GAS TO LNG FACILITY
• TAKING STEPS TO BANK ITS NON-OPERATED PORTFOLIO PRODUCTION AND EXECUTE ADDITIONAL DOMESTIC GAS SALES
• NO OTHER CARGOES CAN BE LOADED UNTIL SITUATION IS RESOLVED
• DOWNSTREAM OPERATOR OF AUSTRALIA PACIFIC LNG WORKING WITH ALL PARTIES CONCERNED TO RESOLVE SITUATION
• TWO CARGOES HAVE ALREADY BEEN DEFERRED OUT OF FY2024 DELIVERY SCHEDULE
• NO IMPACT TO DOMESTIC GAS CUSTOMERS
• IT IS EXPECTED THAT MORE LNG CARGOS WILL BE DEFERRED
• TOTAL NUMBER OF CARGOES TO BE DEFERRED WILL DEPEND ON THE TIMEFRAME FOR RESOLUTION
• EXPECTED MORE LNG CARGOS WILL BE DEFERRED WITH AUSTRALIA PACIFIC LNG ORDINARILY LOADING A LNG VESSEL FOR EXPORT APPROXIMATELY EVERY THREE DAYS