The biggest natural gas news of the day centers around Freeport LNG.
News broke around noon that the facility restart would be delayed from the recent “early October” timeline to a revised “early to-mid November” restart, with full 2 Bcf/d operations occurring by the end of November.
That rate represents “85% of the export capacity of the facility,” and Freeport seems to be using the updated FERC-cleared operational limits of the terminal to calculate that out.
Looking ahead, Freeport LNG will not be at its full operational capability until March 2023, with their second LNG loading dock not coming back online until then.
Once that is achieved, they are expecting to ramp to 100% of the updated capacity.
U.S. LNG feed gas won’t be at full bore until December when the return of Freeport and contributions from Calcasieu Pass LNG allow flows to rise towards 14 Bcf/d.
Source: James Bevan, Criterion Research