U.S. natural gas prices nosedived Tuesday afternoon after Freeport LNG Development LP outlined plans to restart partial operations at its export terminal on the Upper Texas Coast later than expected in November. The company had previously guided for a restart in early October. 

Initial production is now expected to begin in early to mid-November and ramp up to a “sustained level” of 2 Bcf/d by the end of the month. That would represent about 85% of the facility’s capacity, or enough to meet its existing long-term contracts. 

The company does not anticipate the facility’s full 2.38 Bcf/d service returning until next March, when a second loading dock returns to service. It had aimed for full operations to restart by the end of the year. It said “typical construction...