TheGlobe.com Inc (TGLO)

[senor_c]

Folks should read the policy from April 2023. It answers a lot of questions. The policy has been shared by Mr. C., but below is another direct link. Read it. Examples of what is needed to prove "commencement" are included in the policy.

As for the June 2024 deadline, if the deadline was not June of 2024 for Delfin, the DOE would not have listed Delfin in their December 2023 notice update. It's that simple. The 2021 amendment does not amend their seven-year commencement period, which I'll admit was misleading, but the decision clearly states: D. "All other obligations, rights, and responsibilities established by DOE/FE Order
Nos. 3393 and 4028, both as amended, remain in effect." Both 3393 and 4028 were amended, and the seven-year commencement period clearly changed (from February 2021 to June 2024) when it was amended from a 20-year term to through 2050, but the 2021 amendment had nothing to do with extending the export term period; it was just amending language defining the location of the project.

Finally, if Delfin wishes to request an extension, they need to submit that request to the DOE 90 days prior to the June deadline. That's the beginning of March. You all can do the math and decide if you want to sell or add before that 90 day marker (or possibly sooner, as they may file before the 90 day deadline). Good luck!

https://www.energy.gov/sites/default/files/2023-04/Commencement%20Ext.%20Policy%20Statement%20-%20FINAL%2004-21-23%20signed%20with%20blurb.pdf

Below are some relevant paragraphs from the policy.

Accordingly, DOE is giving notice that, in general, it intends to allow non-FTA authorizations to expire at the end of the seven-year commencement period set forth in each authorization. As such, DOE will no longer consider applications for extensions to export commencement deadlines, unless an authorization holder submits an application prior to its commencement deadline demonstrating that: (i) The authorization holder (or its affiliate) has physically commenced construction on the associated export facility before the request for additional time to commence exports is made; and (ii) The authorization holder’s inability to comply with its export commencement deadline is the result of extenuating circumstances outside 60 See supra II.A. 61 As noted, this Policy Statement does not apply to orders authorizing small-scale exports of natural gas (see supra note 4); see also supra note 1. 62 See supra note 37. 18 of the authorization holder’s control, including but not limited to acts of God.

An authorization holder seeking to apply for an extension under this Policy Statement should submit its application to DOE at least 90 days prior to the commencement deadline in its nonFTA order.[color=red][/color] This will ensure that DOE has sufficient time to provide notice of the extension application in the Federal Register for a 30-day public comment period, and to evaluate the application and any public filings received in response to the notice of application prior to the expiration of the non-FTA order.65 In the extension application, the authorization holder should provide evidence, including any supporting documentation, to meet both parts of the required demonstration.

Evidence that an authorization holder (or its affiliate) has physically commenced construction on its export facility may include, for example: (i) a copy of its most recent status report or other update submitted to FERC or MARAD, if available (or, for extraterritorial projects, the comparable federal regulatory agency), describing the current construction status of the export facility; 67 (ii) a verified statement of the construction costs incurred to date, as compared to the total projected costs for construction; and/or (iii) documentation showing that the contractor has met one or more completion targets under the relevant engineering, procurement, and construction agreement. [color=red][/color]

Although the two-part demonstration described above is required for DOE to consider an application for a commencement extension, it does not guarantee that DOE will approve the request. Following the 30-day comment period, DOE will issue an order evaluating the application, and any responses received in response to the notice of application, under the good cause standard provided by NGA section 3(a), with appropriate consideration of the public interest. 68 Further, DOE will consider extending an export commencement deadline only for such time as DOE deems necessary for the authorization holder to commence exports, based on the extenuating circumstances identified in the application.

If an authorization holder reaches the end of the seven-year export commencement period set forth in its non-FTA authorization, and cannot make such a demonstration, the non-FTA authorization will expire on the deadline set forth in the order. 69 DOE will consider any new export application under NGA section 3(a) without prejudice, which would be evaluated pursuant to the policies and analytical tools in use at the time of the new application.