-Root Cause Failure Analysis. Within 90 days following receipt of this Order (CAO), Delfin must complete a root cause failure analysis (RCFA) and submit a final report of this RCFA to the Director.

-Remedial Work Plan.Within 90 days following receipt of this Order (CAO), Delfin must submit a Remedial Work Plan (RWP) to the Director for approval.

Expand Energy (NASDAQ: EXE) is North America's largest independent natural gas producer, formed in October 2024 through the merger of Chesapeake Energy and Southwestern Energy. Based in Oklahoma City with a significant presence in Houston, the company focuses on producing, developing, and marketing natural gas in major U.S. basins, including the Marcellus, Utica, and Haynesville shales.

The Center is currently operational as of its grand opening on April 20, 2026. While it is already conducting key activities like research and education, its role is initially focused on coordination and expertise rather than direct regulatory enforcement.

Operational Status & Timeline: Active Now: The Center is already functioning as a research and coordination hub. It has been hosting a monthly webinar series, "Prioritizing Safety: Best Practices in LNG," since at least February 2026.

Business & Coordination: The facility is currently open for business during standard hours (9:00 AM – 5:00 PM ET, Monday–Friday). It serves as the physical meeting ground for experts from the U.S. Coast Guard, Department of Energy, and FERC to streamline regulatory alignment.

Workforce Training: The 100% online post-baccalaureate certificate is already available for professionals. A more extensive training program is currently in the development phase with a targeted launch for Fall 2026.

Regulatory Evolution: While it does not currently act as a standalone regulatory body, it is expected to eventually publish official standards and guidance that will influence future regulatory oversight of LNG facilities. Department of Transportation (.gov)

The facility is specifically designed to be a "resource for expertise" that companies can utilize immediately for operational best practices.

and is committed to ensuring the line can be brought back into service safely to support this important LNG project.

Good afternoon,
Delfin is fully complying with the corrective measures in the CAO under the oversight of PHMSA's Southwest Regional Office.
The operator has made progress on several elements of its remedial work plan.
PHMSA approved mechanical and metallurgical testing and a root cause failure analysis performed by an independent 3rd party.
Repairs have been made using contractors and procedures vetted and approved by PHMSA.
PHMSA continues to monitor the operator's compliance with the corrective measures required by the order and is committed to ensuring the line can be brought back into service safely to support this important LNG project.

Sincerely,
Marta Riendeau
Supervisory Program Manager - Community Liaison Services
Office of Pipeline Safety / Pipeline and Hazardous Materials Safety Administration
U.S. Department of Transportation

The April 21st deadline is for prime recipients and awardees of Department of Energy (DOE) financial assistance that are subject to the Davis-Bacon Act (DBA) and its Related Acts. The Davis-Bacon Act applies to projects that are federally funded or federally assisted.

Based on available information regarding the Delfin LNG project, it is subject to various federal regulations, but it is primarily structured as a private project financed by equity and debt, rather than a federally funded construction project.

According to industry sources on the 7th, the Ministry of Trade, Industry and Energy is discussing with the Korea Trade Insurance Corporation (K-SURE) and The Export-Import Bank of Korea (KEXIM) a plan to provide more than 1 billion dollars (about 1.5 trillion won) in export guarantees for the Louisiana FLNG plant project in the United States.

Samsung Heavy Industries has secured construction orders worth 3 to 4 billion dollars for this project, which involves building a floating LNG plant off the coast of Cameron Parish, Louisiana. It will be the first offshore plant in the United States to liquefy and store natural gas that is in gaseous form at sea. Project owners include U.S. energy developer Delfin LNG, Japanese shipping company Mitsui O.S.K. Lines, investment firm BlackRock, and the Korea Overseas Infrastructure & Urban Development Corporation (KIND). The construction period is expected to be five years, with operations projected to last more than 25 years. The total project cost is about 4.7 billion dollars (around 7 trillion won), and once completed, the plant is expected to produce 4.4 million tons of LNG annually.

The Korean government is also reportedly reviewing an investment in the project using the Korea–U.S. Investment Fund.

The 2026 LNG Project Scorecard:

One confirmed FID (Venture Global LNG CP2 Phase 2), one imminent (Delfin Midstream), one on track for Q2 (Texas LNG), and one notable casualty (Lake Charles LNG).

Private Loan Complications: The loan from a private company could be treated as a security or an "investment security" if not structured correctly, which could exacerbate the 40% test under Section 3(a)(1)(C)—the rule that deems companies with substantial investment securities as investment companies.

Our management may have other interests that may conflict with the interests of our stockholders.

All test on the pipeline are good

Alyssa Pettus, Chief of Staff at U.S. EXIM
"A few reflections from the recent Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo:
-U.S. leadership on energy, critical minerals, and advanced manufacturing was front and center. 🇺🇸🤝⚡️
-The work of the Export-Import Bank of the United States under Chairman Jovanovic’s leadership is helping unlock nearly $30 billion in financing across the Indo-Pacific, advancing projects that strengthen supply chains, expand domestic industrial capacity, and deepen partnerships with key allies.
-From LNG and nuclear fuel to critical minerals, the throughline was clear: economic security and national security are increasingly inseparable – and sustained coordination with trusted partners is essential. Proud to have been part of a team driving this work forward! 🇺🇸🤝🇯🇵🤝🇦🇺🤝🇦🇹🤝🇮🇳

Sarah Whitten Jeff Wilson Tamar Rowe Thad Brock Jarrod Agen Mesabi Metallics General Matter Scott Duff RZ Resources U.S. Department of Energy (DOE) U.S. Department of the Interior US Environmental Protection Agency (EPA) Delfin Midstream & many more!

The $750 Million Figure: Specific Tranche or Loan: The $750 million mentioned by the economic diplomat likely refers to a specific portion of the total EXIM commitment, such as a direct loan or a guarantee for a particular phase or vessel.
Previous Estimates: Some sources have broken down the financing into smaller formalized chunks. For instance, reports from Business Korea earlier mentioned formalized amounts around $1.4 billion for initial project acceleration. A figure of $750 million would typically represent a single finalized credit agreement or a specific tranche within the overarching $14 billion framework.

The Export-Import Bank of the United States has issued a detailed term sheet for the $14 billion Delfin LNG Project, the first offshore LNG export project in the United States—a floating facility off Louisiana with capacity of about 13 million metric tons annually serving markets such as Japan and South Korea—in partnership with companies including Delfin Midstream, Mitsui O.S.K. Lines, Samsung Heavy Industries, Hanwha Asset Management, and Korea Overseas Infrastructure & Urban Development Corporation.

Yes, Hanwha Asset Management's involvement in the Delfin LNG project is very recent. While the project itself has been in development for years, Hanwha Asset Management was officially named as a partner in a strategic consortium in March 2026.
U.S. Department of the Interior (.gov)

Timeline of Involvement: March 2026 (Consortium Announcement): Hanwha Asset Management was identified as a key financial partner during the Indo-Pacific Energy Security Forum. This announcement included a detailed term sheet from the U.S. Export-Import Bank for the $14 billion project.

The Export-Import Bank of the United States has issued a detailed term sheet for the $14 billion Delfin LNG Project, the first offshore LNG export project in the United States—a floating facility off Louisiana with capacity of about 13 million metric tons annually

The inaugural Indo-Pacific Energy Security Ministerial has concluded with over $56bn in deals signed and transformational results.

LNG: Venture Global LNG closed an $8.6 billion Final Investment Decision for the CP2 LNG facility in Louisiana. Venture Global and Hanwha Aerospace executed a binding 20-year agreement for 1.5 million tonnes per annum valued at $10 billion.

Export-Import Bank of the United States approved a $750 million term sheet for the $7 billion Delfin Midstream floating LNG export facility.

To move an EXIM Bank Letter of Interest (LI) to a full direct loan or guarantee, the exporter must submit a formal, comprehensive application for a Preliminary Commitment (PC) or Final Commitment (AP) after winning the contract. Key requirements include submitting detailed financial information, meeting U.S. content standards, and satisfying environmental/economic impact reviews

Based on EXIM Bank’s guidelines, it is unlikely that they would issue a Letter of Interest (LI) if a company does not meet the core eligibility requirements, as the LI acts as a preliminary, high-level review of a transaction's feasibility

A standby Letter of Interest (LOI) from the EX/IM Bank is a very strong, credible signal, indicating that a potential export transaction fits EXIM's financing requirements. While non-binding, it demonstrates U.S. government commitment to support the deal and helps lenders, exporters, and foreign buyers move forward with financing.

Those letters came on top of bank backing for other enterprises that was rolled out during the summit, including for Delfin Midstream Inc, the developer of a liquefied natural gas (LNG) export project off the Louisiana coast, as well as critical metals extraction and refining projects.

"If we played 'em ten times, they might win nine. But not this game. Not tonight... Tonight, we are the greatest hockey team in the world".HB '80

Assessment:
Confirmed: Localized damage at the blast site consistent with the reported pipeline explosion. Damage is contained to a single point along the route. Surrounding pipeline infrastructure appears intact based on visual and thermal aerial inspection.

Physical Visibility: While the main pipeline is buried, appurtenant facilities such as a mainline block valve and blowdown site are visible just south of Louisiana Highway 82, near the approach to Station 44.

Total Onshore Segment: The total length of the reactivated onshore portion of the UTOS pipeline, from the mean high-water mark to the station, is approximately 1.1 miles

The HIOS pipeline is being repurposed for transporting natural gas from UTOS via a bypass at WC-167 to the Delfin Deepwater Port location. Spur pipelines will be installed to transport gas from the HIOS pipeline to the respective FLNG Vessel mooring sites.

"WC 327" refers to West Cameron Block 327, a specific lease block area in the Gulf of Mexico, rather than a single pre-existing pipeline name. Delfin LNG has designated this area as the location for its proposed floating liquefied natural gas vessels (FLNGVs) and associated new, short lateral pipelines.

Key Details Regarding "WC 327" and Delfin LNG:

Project Location: The Delfin LNG deepwater port is planned for Federal waters in the West Cameron Area, where four FLNGVs are slated to be moored near West Cameron blocks 319, 327, 328, and 334.

Infrastructure Plan: Delfin LNG plans to modify the existing High Island Offshore System (HIOS) pipeline to terminate in the vicinity of WC 327.

New Construction: The project involves constructing new 30-inch diameter lateral pipelines (approximately 6,400 feet long) to supply natural gas to the FLNGVs in that area.

Existing Pipelines: Delfin purchased the existing 42-inch UTOS pipeline and has a lease for the HIOS pipeline to deliver gas to the offshore site.

In summary, WC 327 is a geographic location (lease block) for the new infrastructure, not the name of a pre-existing pipe.

West Cameron Block 167 (WC-167) is located approximately 26 to 30 miles offshore Louisiana, serving as a key junction for existing infrastructure. While Delfin uses existing 42-inch pipelines (UTOS/HIOS) to reach the area, they must construct a new, roughly 700-foot bypass pipeline at WC-167 and additional laterals to connect these lines to the FLNG vessels situated 40–46 miles offshore.

Key Pipeline Construction Details:Existing Infrastructure: Delfin acquired the existing 42-inch U-T Offshore System (UTOS) pipeline, which runs from Cameron Parish to the WC-167 platform.

New Construction Needed: To connect the existing pipelines to the FLNG vessels (located further out than the WC-167 platform), Delfin is constructing a 700-foot-long, 42-inch diameter bypass pipeline to directly connect the UTOS and HIOS pipelines, bypassing the older platform structure.

Final Delivery: Additional lateral pipelines will be installed to connect this main line system to the specific FLNG vessels moored approximately 40–46 miles offshore.