Freeport LNG Gas Flows Decline to One-Month Low in Texas
(Reuters) — The amount of natural gas flowing to U.S. liquefied natural gas (LNG) company Freeport LNG's export plant in Texas was on track to fall to a one-month low on Monday, according to data from financial firm LSEG.
Freeport LNG is one of the most closely watched LNG export plants in the world because the start and stop of its operations often cause massive price swings in global gas markets.
U.S. gas futures NGc1 turned negative due in part to the reduction at Freeport after soaring about 10% earlier in the session to a two year high.
Gas futures at the Title Transfer Facility (TTF) benchmark in Europe, meanwhile, were trading up about 4%.
When flows to Freeport decline, gas prices in the U.S. usually slide due to the export plant's lower demand for the fuel, while prices in Europe increase due to a drop in LNG supplies available to global markets from the plant.
Officials at Freeport declined to comment.
LSEG said the amount of gas flowing to the eight big U.S. LNG export plants, including Freeport, rose to an average of 15.0 billion cubic feet per day (Bcf/d) so far in January, up from 14.4 Bcf/d in December. That compares with a monthly record high of 14.7 Bcf/d in December 2023.
One billion cubic feet of gas is enough to supply about five million U.S. homes for a day.
On a daily basis, LNG feedgas was on track to slide from an all-time high of 15.5 Bcf/d on Jan. 11 to 14.4 Bcf/d on Monday due mostly to the reduction at Freeport.
Flows to the 2.1-Bcf/d Freeport were on track to drop to 1.4 Bcf/d on Monday, down from 1.6 Bcf/d on Sunday and an average of 2.1 Bcf/d over the prior seven days.
Separately, flows to Venture Global LNG's 2.6-Bcf/d Plaquemines plant under construction in Louisiana were on track to rise to a record 1.0 Bcf/d on Sunday and Monday.
Related News
Related News

- Energy Transfer Wins New York Court Ruling in $150 Million Pipeline Fraud Case
- $3 Billion Natural Gas Pipeline Expansion to Add 1.3 Bcf Capacity in Southeast Region
- Trump Puts Keystone XL Pipeline Back in Discussion, Though Revival Faces Developer Resistance
- ONEOK, MPLX to Build $1.4 Billion LPG Export Terminal, Pipeline in Texas
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
- Caspian Pipeline Consortium Lowers 2024 Oil Export Forecast Again
- U.S. Oil Inventories at Cushing Storage Hub Drop to Lowest in a Decade
- AGDC and Glenfarne to Develop $44 Billion Alaska LNG Project, Including 807-Mile Pipeline
- Plains All American Launches Year's First M&A Bond with $1 Billion Offering
Comments