Freeport Lng

The developers of the Freeport liquefied natural gas (LNG) export facility in Texas are targeting a mid-2022 final investment decision (FID) and a 2026 startup for the plant’s fourth train as customers indicate interest for long-term contracts. However, CEO Michael Smith told NGI last week that Freeport LNG will maintain a patient approach when it…

A roundup of news and commentary from NGI’s LNG Insight A global commodity rally continued Thursday. Dutch gas futures soared to an all-time record by jumping above $12/MMBtu, while spot LNG prices in North Asia were assessed near $14. In the United States, the Henry Hub prompt contract increased by 1 cent to close at…

Natural gas prices in Europe and Asia pressed higher last week, topping multi-month highs and continuing a bull run that has persisted for much of the spring.  In Europe, prompt prices notched their third straight week of gains. The Title Transfer Facility contract broke through $9.00/MMBtu and closed well beyond that mark most of the…

With the latest government inventory data showing Lower 48 stockpiles falling further behind historical norms, natural gas futures climbed a couple cents higher in early trading Friday. The June Nymex contract was up 2.3 cents to $2.996/MMBtu at around 8:45 a.m. ET. The Energy Information Administration (EIA) on Thursday reported an injection of 71 Bcf…

A roundup of news and commentary from NGI’s LNG Insight Cameron LNG confirmed Thursday that one of its three liquefaction trains is offline for maintenance. Feed gas deliveries declined from about 2 Bcf/d on Sunday to 1.4 Bcf/d on Thursday. A spokesperson said work on the train should be completed by the end of the…

The cold snap earlier this winter in Asia and Europe that sent prices skyrocketing and buyers scrambling for liquefied natural gas (LNG) cargoes was an indication that the global market is becoming too reliant on spot deliveries, said Freeport LNG CEO Michael Smith.  “There’s been an overreliance on spot cargoes in our industry,” he said…

U.S. liquefied natural gas (LNG) exports were slowly recovering Friday, but the impacts of brutal cold along the Gulf Coast that nearly halted shipments altogether were lingering.  Eighteen empty LNG vessels were floating in the Gulf of Mexico Friday, up from 12 on Thursday, Kpler economist Reid I’Anson told NGI. Another two tankers were diverted…

Progress continues in bringing online the third liquefied natural gas (LNG) export facility along the Gulf Coast after federal authorities approved some commissioning activities at Freeport LNG.