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Fire at Texas LNG Export Terminal

NATGAS

A fire broke out at a Texas LNG export terminal after an explosion and is likely to be closed for at least 3 weeks.

  • US gas is trading down 4.7% to 8.29$/mmbtu,TTF is up 12.11% to 89.02€/MWh and NBP is up 29% to 168p/th in reaction
  • Freeport is one of 7 US LNG export terminals and accounts for 16% of US export capacity.
  • In Jan-Apr this year US accounted for 49% of imports to EU and UK
  • A three week shutdown could potentially have quite an impact on filling up European gas storage facilities ahead of the winter. Storage levels are up to 50.24% full with an EU target of 80% by November.

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