U.S. Natural Gas Flows to Texas Freeport LNG Export Plant Rise on Monday
(Reuters) — The amount of natural gas flowing to Freeport LNG's liquefied natural gas (LNG) export plant in Texas was on track to rise for a second day in a row on Monday, according to data from financial firm LSEG.
The amount of gas flowing to Freeport was set to rise to 0.6 billion cubic feet per day (Bcf/d), up from 0.5 Bcf/d on Sunday and an average of 0.1 Bcf/d over the prior seven days, according to LSEG data.
Why It's Important
Increases in the amount of gas flowing to LNG export plants in the U.S. translate to higher exports to Europe and Asia, influencing natural gas prices in the U.S.
The U.S. became the world's biggest LNG supplier in 2023, ahead of recent leaders Australia and Qatar, as much higher global prices fed demand for more exports due in part to supply disruptions and sanctions linked to Russia's war in Ukraine.
Context
Freeport said in late March that it expected two of the three liquefaction trains at the plant - Trains 1 and 2 - to remain shut until May for inspections and repairs, while Train 3 was operating. Each liquefaction train at Freeport can turn about 0.7 Bcf/d of gas into LNG.
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