PNG LNG Project Concludes Lender Operational Completion Test

PORT MORESBY, Papua New Guinea – The PNG LNG Project’s 120-day operational test period has successfully concluded.
This is just one of several tests required, and is an important milestone towards satisfaction of
the financial completion tests set forth in the Project’s financing arrangements.
After financial completion has been achieved, guarantees will be released, loan repayments will
commence, and co-venture distributions will be permitted.
Financing for the Project has been provided by a consortium of banks and export credit agencies.