NYMEX Price Drops 19.4 Cents Due To Another Freeport LNG Outage

We need a scorecard to keep track of all the ups and downs at the problem-plagued Freeport LNG export facility, located near Galveston, Texas. We don’t think it’s a stretch to say the plant, which is the third-largest LNG export plant in the U.S., has been down almost as much as it has been up since first coming online in 2019 (see our Freeport outage stories here). Feed gas nominations to the facility dropped by more than 30% yesterday, indicating that one of the three trains is, once again, offline. The situation led to a sharp decline in the NYMEX futures price of natural gas, which settled down 19.4 cents at $3.204/MMBtu. No comment from Freeport on this latest outage.

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