Skip to content

US Natural Gas Slumps as LNG Plant Shutdown Strands Supplies

  • Fire-damaged Freeport LNG terminal may be shut for 90 days
  • European prices surged as region’s stockpiles remain tight
Updated on

US natural gas futures plummeted and European prices surged after the operator of a key Texas export terminal said it may take three months to partially restart the facility following a fire last week.

The new timeline from Freeport LNG is much longer than many market participants had anticipated and matches the worst-case scenario posited by at least one analyst. Freeport previously said its facility would remain closed for at least three weeks.