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US Extends Decline on Speculation of Freeport LNG Delay

NATGAS

US Natgas extends decline on speculation Freeport LNG won’t resume operations as planned in mid November.

    • US Natgas DEC 22 down -10% at 6.25$/mmbtu
  • Last week Freeport filed a “Root Cause Failure Analysis” as required by federal regulators but hadn’t yet filed a restart plan as required before operation can resume.
  • Freeport LNG has previously expected to restore 85% of pre-fire processing capacity by the end of November and complete repairs to bring the facility back to 100% by March.
  • Freeport shut on June 8 because of a pipeline explosion.
  • The 10% fall in the front month US natgas price today has erased the cold weather driven gains seen yesterday.

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