Freeport Lng

PHMSA Examines ‘Overpressure Situation’ at Freeport LNG, Possibly Delaying Restart

PHMSA Examines ‘Overpressure Situation’ at Freeport LNG, Possibly Delaying Restart

High pressures in a stretch of piping likely caused an explosion that knocked the Freeport liquefied natural gas (LNG) export terminal offline, according to federal regulators, who have proposed requirements that could ultimately delay a return to service. The Pipeline and Hazardous Materials Safety Administration (PHMSA) said the cause of the June 8 incident is…

June 30, 2022
August Natural Gas Futures Make Soft Landing at Front of Curve Despite Bullish Backdrop

August Natural Gas Futures Make Soft Landing at Front of Curve Despite Bullish Backdrop

Nymex natural gas futures, led now by the August contract, failed to hold onto early price gains amid weakening demand ahead of the holiday weekend. The August Nymex futures contract settled at $6.498/MMBtu, down 7.2 cents on the day. September futures slipped 6.4 cents to $6.493. At A Glance: Models still point to hot July…

June 29, 2022
Freeport LNG Outage Proves Need to Boost Natural Gas Output, Says Huntsman CEO

Freeport LNG Outage Proves Need to Boost Natural Gas Output, Says Huntsman CEO

Barring an increase in domestic natural gas production, the United States should stay the course with regard to liquefied natural gas (LNG) export volumes, the top executive at global chemical manufacturer Huntsman Corp. told NGI. “I don’t think we should be exporting any more LNG than we are today if we’re not going to, conversely,…

June 29, 2022
Freeport LNG Outage Dominates North American Natural Gas Price Outlook

Freeport LNG Outage Dominates North American Natural Gas Price Outlook

An extended outage at the Freeport liquefied natural gas (LNG) terminal continued to dominate the North American natural gas price outlook during the June 9-15 trading period, casting a wide shadow over regional markets from coast to coast, NGI’s Forward Look data show. The initial outage following an explosion at the 2.0 Bcf/d Freeport terminal…

June 17, 2022
Europe and Asia LNG Prices Surge on Freeport Outage, Nord Stream 1’s Reduced Flows

Europe and Asia LNG Prices Surge on Freeport Outage, Nord Stream 1’s Reduced Flows

News that the outage at Freeport LNG in the US will last longer than initially expected drove up the ICIS European TTF gas benchmark due to lower expected US exports. The ICIS East Asia Index (EAX) also climbed, underscoring its close ties to Europe’s prices.

June 17, 2022
Natural Gas Futures Extend Recovery Ahead of EIA Report; Temps ‘Solidly Hot and Bullish’

Natural Gas Futures Extend Recovery Ahead of EIA Report; Temps ‘Solidly Hot and Bullish’

Against a backdrop of sweltering heat at home and surging prices abroad, and with traders still factoring in the balance implications of an extended outage at a major U.S. export facility, natural gas futures advanced early Thursday ahead of the latest round of government storage data. The July Nymex contract was up 38.3 cents to…

June 16, 2022
Natural Gas Futures Bounce Back After Third-Largest Drop on Record

Natural Gas Futures Bounce Back After Third-Largest Drop on Record

Following one of the biggest plunges in the history of natural gas trading, futures rebounded on Wednesday as traders digested the impact of a major export outage against a broader backdrop of robust global demand. At A Glance: Traders focus on robust cooling demand Europe’s thirst for U.S. LNG holds strong Cash prices rebound as…

June 15, 2022
Global Natural Gas Prices Soar on Freeport LNG, Russian Outages

Global Natural Gas Prices Soar on Freeport LNG, Russian Outages

European and Asian natural gas prices continued soaring higher Wednesday with the market on edge about two key supply outages in Russia and the United States. Word on Tuesday that the liquefied natural gas (LNG) terminal on Quintana Island, TX, Freeport LNG, won’t enter full service until later this year after an explosion, as well…

June 15, 2022
Natural Gas Utility Bills Rising, but Freeport LNG Outage Adds Downward Price Twist

Natural Gas Utility Bills Rising, but Freeport LNG Outage Adds Downward Price Twist

Major utilities across the United States are paying more for natural gas-fired generation, and they are passing the higher cost on to consumers. Earlier this month, the American Gas Association (AGA) reported that U.S. domestic gas demand averaged 68.8 Bcf/d in May, up 3.5% year/year. AGA attributed most of the additional demand to power burn,…

June 15, 2022
Natural Gas Futures Rebound Early as Traders Weigh Freeport Outage, Potentially Hot Summer

Natural Gas Futures Rebound Early as Traders Weigh Freeport Outage, Potentially Hot Summer

Natural gas futures rebounded early Wednesday as traders continued to mull the impact of an extended outage at the Freeport liquefied natural gas (LNG) export terminal in the context of storage deficits and a potentially hot summer ahead. After plummeting $1.420 in Tuesday’s session following news that the Freeport LNG facility won’t see a return…

June 15, 2022