Just days after Freeport LNG denied a tweet suggesting the export terminal would resume operations in the near future after an explosion in June, the major methane gas reporter, again, pushed back its timeline for reopening. The facility told buyers it would likely cancel shipments scheduled for November and December. U.S. methane gas futures had already fallen in response to the tweet about cracked pipes at the terminal, and the extended outage of the terminal that had accounted for 15% of U.S. exports aggravates concerns over European energy supplies this winter. Freeport LNG has still not even submitted a restart plan to PHMSA regulators, a required step for resuming operations. (Bloomberg $, Reuters, OilPrice, Natural Gas Intel, Seeking Alpha)
