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Freeport LNG Set for October Partial Restart

LNG

The US regulator has reached a deal for Freeport to begin exporting LNG in October.

  • Freeport is the second biggest LNG export terminal globally. Its shutdown has pressured gas markets, especially with European and Asian demand so high since the Ukraine invasion.
  • It has been shut since June 8 after a fire damaged operation.
  • It will only open under partial operations to start – it is not clear when it will then return to full capacity.
  • The initial restart will include three liquefaction trains, two LNG storage tanks and one LNG loading dock. The restart will enable the plant to deliver roughly 2 billion cubic feet per day of LNG, enough for existing long-term customer agreements, the company said.
  • US natural gas prices jumped late in yesterday’s sessions on the news. In today’s session: US Natgas SEP 22 down -0.1% at 8.26$/mmbtu.
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