Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.24.3
COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Reconciliation of Changes in Deferred Payments
The following table summarizes the accrued amounts related to the EPC deferred payments, including the contingent liability, as of September 30, 2024 and December 31, 2023:
(in thousands) As of
September 30, 2024		 As of
December 31, 2023
Beginning balance
 $ 602,229  $ 126,615 
Addition
 53,243  448,813 
Interest
 40,552  26,801 
Ending balance
 $ 696,024  $ 602,229 
Schedule of Future Minimum Deferred Payments for EPC
The following table summarizes the minimum required payments of the EPC deferred payments as of September 30, 2024 assuming Substantial Completion as defined in the CTCI EPC Agreement is achieved in the first quarter of 2025 and excludes the contingent amounts accrued totaling $436.5 million as there is no contractual obligation related to this amount:
(in thousands)
 EPC deferred payments
2024 $ - 
2025 101,669 
2026 101,669 
2027 50,834 
Total $ 254,172 
Schedule of Future Minimum Management Services Agreement Payments
The following table summarizes the minimum required payments of the MSA as of September 30, 2024:

(in thousands) MSA Payments
2024 875 
2025 3,500 
2026 3,500 
2027 3,500 
2028 3,500 
Thereafter 5,833 
Total $ 20,708