Cancelled LNG Cargoes Fuel Freeport Restart Fears

Freeport has cancelled some upcoming LNG shipments fueling fears its reopening could be delayed further. It was planned to open in the second half of January, a target Freeport has said is still on track as it awaits regulatory approval after last year’s fire.

• Bloomberg sources have reported on two cargoes being cancelled – one at the end of January and another in early February.
• Reuters sources reported earlier this week that the facility was not expected to open until at least February, something Freeport denied.
• The terminals closure has contributed to keeping more gas in the domestic US market and suppressing prices along with a largely mild winter so far.
• Freeport has declined to comment on vessel cancellations.