US Natgas Reverses Direction Back to Positive on the Day

Front month Henry Hub recovers back to positive on the day as the market weighs the partial restart of Freeport LNG against a further wait for the resumption of full operations.

• The price had fallen as low as 1.97$/mmbtu earlier today but is now back up to 2.13$/mmbtu.
• US regulators have now authorized a full return to commercial service for two of three Freeport LNG liquefaction trains. The approval provides for the immediate full return to service of one liquefaction train, that has already restarted, and the incremental restart and full return to service of a second train.
• The third train will require subsequent regulatory approval once certain conditions are met before restart. The return to service could be delayed until May because of mechanical problems according to Energy Interliigance.
  • US Natgas MAR 23 up 2.8% at 2.13$/mmbtu