2008-09-19 23:37:01 -

www.freeportlng.com - Freeport LNG Development, L.P. ("FLNG") reported Monday, September 15 that operations at its LNG receiving terminal on Quintana Island, TX were continuing and that it sustained only minor damage to its facility in the wake of Hurricane Ike.

"Our incident command team assessed the facility on the morning of Sunday, September 14, and determined that damage to the plant resulting from the storm was minor and that all processes at the facility were normal," stated Michael Smith, Chairman and CEO of FLNG. Mr. Smith added, "The impact of the storm was primarily related to minor rain leakage into two non-critical site buildings and debris washing up against perimeter barriers to the site. However, all critical equipment is

operational and the facility is fully staffed. I want to congratulate the entire FLNG team as well as local law enforcement on a job well done both before and after the passage of Hurricane Ike. The fact that we are staffed and operating at pre-storm levels is a testament to the professionalism and dedication of the entire team, and speaks to the strength and integrity of the construction of this new facility. As a result, we are able to turn our attention more rapidly to serving the needs of our employees and the local community which has been greatly impacted by this storm."

Freeport LNG Development, L.P. is a Delaware limited partnership whose sole general partner is owned 50 percent by Michael S. Smith and 50 percent by ConocoPhillips (NYSE: COP). The limited partners are Michael S. Smith, 45 percent; Cheniere Energy, Inc. (AMEX: LNG), 30 percent; Texas LNG Holdings LLC, a wholly-owned subsidiary of The Dow Chemical Company (NYSE: DOW), 15 percent; and Turbo LNG LLC, a wholly-owned subsidiary of Osaka Gas Company, Ltd, 10 percent. More information about the Freeport LNG receiving terminal may be found at www.freeportlng.com.

Freeport LNG Development, L.P., Houston
Charles Reimer, 713-980-2888