One of the largest operators of liquefied natural gas export terminals in the United States suffered a massive blow last week that will leave its main plant fully offline through September, and only partially operational after that through year's end.
- Freeport LNG's plant singlehandedly accounts for about 20% of all U.S. natural gas exports, and was a major supplier to European suppliers seeking alternatives to Russian gas since the February invasion.
This unexpected disaster is actually good news for the US natural gas market
- A prolonged outage will reduce exports by 40 LNG container ships from annual export volume, up sharply from an earlier estimate of a three-week outage that would have reduced exports by just 13 cargoes
- The 100-million-ton-per-year market for LNG is now expected to lose between four and five million tons
- Roughly 70 percent of Freeport's exports in the past few months have been to the European Union and Great Britain, the biggest importers this year being France, Turkey and The Netherlands
- None of the liquefaction trains that chill the gas were damaged, nor were any of the processing areas, storage tanks or docks
https://www.naturalnews.com/2022-06-22-freeport-natural-gas-terminal-down-explosion-collapse.html
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