Freeport LNG has resumed full operations, easing concerns about global LNG supply and causing a decline in European natural gas prices.
Freeport LNG, the second-largest U.S. liquefied natural gas export facility, is on track to return to full LNG production, pulling in more than 2 billion cubic feet bcf of natural gas on Sunday, according to data from LSEG reported by Reuters. The export plant has been offline for most of July after shutting down on July 7 ahead of the landfall of Hurricane Beryl in Texas.
Freeport LNG last loaded a cargo on July 5, before being taken offline ahead of the landfall of Hurricane Beryl. In the aftermath of Hurricane Beryl, at least 10 cargoes are said to have been canceled from Freeport LNG. In the week ending July 24, two vessels departed from the Freeport plant, the U.S. Energy Information Administration EIA said in its latest Natural Gas Weekly Update on July 25, citing shipping data provided by Bloomberg Finance, L.P.
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