natural gas intraday
The expected timeline for a restart of the Freeport LNG terminal in the US was mid-to-late October but that's been pushed back by an update today.
That will mean more gas is stuck in the US and unavailable for export to Europe and the rest of the world. The huge 2 bcf terminal suffered an explosion on June 8 and has been under repair.
The new timeline is for initial production restarting in early-to-mid November and ramping up until the end of the month. Notably, it will continue to operate at only 85% of export capacity until March 2023.
That's a dramatic move in natural gas on the headlines. It hit $10 today for the first time since 2008 but is down to $9.26.
