A roundup of news and commentary from the global natural gas market
- Freeport LNG Development LP had nominated more feed gas Tuesday in an indication that the plant is ramping up a day after a spokesperson said the facility would return to service in phases after it was damaged last week by former Hurricane Beryl.
- The 2.1 Bcf/d liquefied natural gas facility was scheduled to receive 370 MMcf of feed gas Tuesday, according to Wood Mackenzie, higher than previous early cycle nominations that were later revised lower. Each of the terminal’s liquefaction trains has the capacity to produce more than 600 MMcf/d of LNG.
- Freeport said it plans to restart one of its three trains this week. It is unclear when the entire facility would return to service.
- Five LNG vessels were still floating offshore near Freeport on Tuesday as they have been since last week. Bloomberg reported Tuesday, citing anonymous sources, that Freeport has canceled at least seven cargoes due to the storm damage. It has been offline since July 7.
- Both the Dutch Title Transfer Facility and the Japan-Korea Marker increased Tuesday on news of a prolonged outage at Freeport. TTF was in the mid-$10/MMBtu range, while JKM was in the mid-$12 range.
