Skip to content

US Natural Gas Slumps After Fire at Texas LNG Export Terminal

  • Freeport LNG says facility shut down for at least three weeks
  • The terminal accounts for around 16% of US export capacity
Video player cover image
WATCH: A fire breaks out at a Texas LNG terminal.Source: Bloomberg
Updated on

US natural gas prices tumbled after a fire broke out at a Texas export terminal, threatening to leave supplies of the fuel stranded in the domestic American market despite surging overseas demand. 

Freeport LNG’s terminal in Quintana, Texas, has been shut down after an explosion at 11:40 a.m. local time and will remain closed for at least three weeks, spokeswoman Heather Browne said late Wednesday by email. There were no injuries or risks to the surrounding community, and an investigation on the incident is ongoing, the company said in a previous statement.