CEO Message
2023 was a pivotal year for Freeport LNG as we returned to LNG production operations in the first quarter. The safety of our people, property and community remains our first priority, and we were able to achieve notable safety milestones last year as we returned to operations. We worked approximately one million man-hours in 2023 with no employee recordable incidents; an incredible achievement reflective of our company’s dedication to conducting our work safely, and unwavering commitment to remain vigilant in ensuring safe practices. We launched several initiatives in 2023 intended to achieve sustained operational excellence; these important initiatives are detailed in the Health and Safety section of this report.
Michael Smith, Founder, Chairman and CEO
From a business development standpoint, we continued to progress several projects in 2023 including our Helium Extraction and Debottlenecking Projects. We anticipate that initial helium extraction will be achieved in September 2024. Our Debottlenecking Project will also be completed in the first half of 2024, and will increase our potential LNG production from 15 mpta to 16.5 mtpa.
This incremental LNG production increase is certainly needed. When we take a macro view of the global energy landscape, and with Europe specifically, the world continues to face challenges with sourcing clean, reliable and secure energy supplies; LNG is, without question, the most environmentally sound solution to displacing dirty coal and other fossil fuels.
With our all electric-drive facility, resulting in a dramatic reduction in emissions relative to gas turbine fired facilities, Freeport LNG continues to be well-positioned to provide our customers with the cleanest LNG in the industry. We are a resilient, forward-looking company with talented and hard-working employees who are dedicated to our success. The future is now for sourcing clean and reliable energy for our global allies and Freeport LNG intends to answer the call.