Freeport accident could cut U.S. LNG exports to Europe

In July, the United States may reduce exports of liquefied natural gas to Europe by 150,000 tons after an accident at a plant in Freeport, Texas, said Ivan Timonin, a consultant at Vygon Consulting.

It is noteworthy that Freeport LNG is a company that oversees the operation of one of the largest LNG plants exported by the United States. The company had previously announced that it would shut down the plant after a fire and explosion occurred on July 8. The plant will be out of business for at least 3 months and you don’t expect it to be fully operational before the end of the year.

For its part, the US Department of Energy indicated in a July report that the shutdown of the plant would cut the country’s LNG export capacity by about 2 billion cubic feet per day — about 17% of total export capacity. The ministry lowered its export forecast for the second half of the year to an average of 10.5 billion cubic meters. feet per day (-14% compared to the June forecast).

Source: RIA Novosti

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