July 15 (Reuters) - U.S. liquefied natural gas export
company Freeport LNG's export plant in Texas was on track to
pull in small amounts of natural gas on Monday after shutting on
July 7 before Hurricane Beryl hit the Texas coast, according to
data from financial firm LSEG.
Freeport is one of the most-watched U.S. LNG export plants
because it has a history of swaying global gas prices when it
shuts.
Since Freeport shut, U.S. gas futures have declined
by about 2% to a two-month low of $2.26 per million British
thermal units (mmBtu).
The amount of natural gas flowing to Freeport was on track
to reach about 0.1 billion cubic feet per day (bcfd) on Monday,
up from near zero from July 7-14, according to LSEG data. Beryl
hit the Texas coast on July 8.
Energy traders, however, noted that Freeport was also on
track to pull in similar amounts of gas late last week but ended
up pulling in almost no gas.
Officials at Freeport were not immediately available for
comment but have said over the past several days that they had
no comment on the plant's status since announcing it would shut
before Beryl hit the Texas coast.
In the week before Freeport shut, the 2.1-bcfd plant was
pulling in an average of about 1.7 bcfd of gas, according to
LSEG data.
With Freeport down, feedgas to the seven big U.S. LNG export
plants, including Freeport, has averaged about 11.8 bcfd so far
in July, down from 12.8 bcfd in June and a monthly record high
of 14.7 bcfd in December 2023.
Freeport is the nation's third-biggest LNG export plant
behind Cheniere Energy's 4.5-bcfd Sabine Pass in
Louisiana and 2.4-bcfd Corpus Christi in Texas.
Each of Freeport's three liquefaction trains can turn about
0.7 bcfd of gas into LNG.
One billion cubic feet is enough gas to supply about 5
million U.S. homes for a day.