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US Rallies As Freeport Apply for First Steps Towards Restart

NATGAS

US Natgas ticks higher after Freeport LNG report the completion of repair works and asked US regulators for permission to take steps to restart the facility.

    • US Natgas FEB 23 up 3% at 3.55$/mmbtu
  • Further approvals will be required for the export terminal to resume gas liquefaction and ship loading. The facility has been offline since 8 Jun and is expected to be able to resume exports in late February of early March according to Energy Aspects.
  • Once fully operational Freeport LNG would bring back over 2bcf/d of LNG export capacity. Deliveries to US LNG export terminals are today estimated at 12.0bcf/d.
  • Mixed weather across the US is adding to the price support with cold weather expected in northern, central, and western areas in the coming two weeks. Domestic demand is today near normal at 96.7bcf/d.
  • Natural gas production was yesterday holding steady at a high output of approximately 101.7bcf/d.
  • Export flows to Mexico are unchanged at around 6.4bcf/d.

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