Global Gas Supplies Worsen After Fire Shuts Down Freeport LNG Export Plant. Will Remain Shut Down Until The End Of the Year

Photo courtesy Freeport LNG Development, L.P.  

OilPrice.com: Freeport LNG Not Expected To Resume Full Operations Until Late 2022 

Freeport LNG will not resume full operations at its liquefication plant on Quintana Island until the end of this year, according to the company’s Tuesday press release. 

While China’s LNG demand may be calming the hot LNG market, news that Freeport LNG’s Texas plant will not resume full operations until late 2022 may upset the market. 

“At this time, completion of all necessary repairs and a return to full plant operations is not expected until late 2022,” Freeport LNG said, adding that partial operations could be resumed within 90 days.  

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WNU Editor: Since this natural gas cannot be exported, US domestic natural gas prices have declined. For everyone else, especially in Europe, prices are increasing. 

A part of me wonders if this was a Russian cyber attack to send a message to Europe? The timing for this shutdown is just too perfect. 

Global Gas Supplies Worsen After Fire Shuts Down Freeport LNG Export Plant  

Explosion at Texas terminal injects uncertainty into global energy market -- The Hill  

Global Gas Woes Worsen on Extended US LNG Plant Outage -- Bloomberg  

Freeport LNG extends outage after fire, targets year end for full operations -- Reuters  

Natural gas plummets as Freeport delays facility restart following explosion -- CNBC