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NATGAS: Power Supply to Freeport Drops Amid Gradual Restart

NATGAS

Power supply to the Freeport LNG facility is dropping on July 24, according to data seen by Bloomberg, to reverse the increase in power flows since the restart of the facility last week.

  • The facility is gradually restarting following outage due to Hurricane Beryl earlier this month. Freeport said on July 15 that Freeport will restart trains 2 & 3 “shortly after” train 1 resumes but with production levels at reduced rates for a period of time as repairs continue.
  • Power levels indicate fewer than two of the three production units are running, according to Bloomberg sources.
  • Bloomberg shows Freeport LNG supply at 1.34bcf/d today and roughly in line with the last couple of days. The supply is consistent with operation of two of the three trains.
  • The potential for a further delay in the Freeport return is adding support to European TTF prices and weighing of US Henery Hub.
    • TTF AUG 24 up 3.5% at 32.74€/MWh
    • US Natgas AUG 24 down 2.1% at 2.14$/mmbtu
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