• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 days Does Toyota Know Something That We Don’t?
  • 5 days World could get rid of Putin and Russia but nobody is bold enough
  • 1 day America should go after China but it should be done in a wise way.
  • 7 days China is using Chinese Names of Cities on their Border with Russia.
  • 9 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 9 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 9 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 7 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 8 days Putin and Xi Bet on the Global South
  • 8 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 9 days United States LNG Exports Reach Third Place
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs
Canada’s Oil Majors Are Sitting Out The Energy M&A Wave

Canada’s Oil Majors Are Sitting Out The Energy M&A Wave

Experts are predicting that it’s…

Crew Abandons Cargo Ship After Houthi Attack

Crew Abandons Cargo Ship After Houthi Attack

Attacks on Red Sea shipping…

Feedgas Volumes To U.S. Freeport LNG Plant Plunge

The volumes of feedgas into the major U.S. LNG export facility Freeport LNG plummeted this weekend, at a time when the global gas market could tighten ahead of the winter with a strike at Australian LNG plants and maintenance in Norway.

Feedgas flows to Freeport LNG plunged from 1,640 million cubic feet per day (mcf/day) on Friday, to 702.9 mcf/day on Saturday and further to 284.3 mcf/day on Sunday, according to data from LSEG cited by Reuters.

On Monday, feedgas flows to the second-largest U.S. LNG exporting plant, averaged around 622 mcf/d, per the data.

According to Leo Kabouche, LNG market analyst at consultancy Energy Aspects, the decline in feedgas over the weekend suggests that at least two Freeport LNG units, or trains, were not taking any gas.

Global demand for U.S. LNG has jumped since the Russian invasion of Ukraine and the Russian halt of pipeline gas deliveries to most of Europe.

Ahead of this winter, prices haven’t jumped too much thanks to high levels of gas in storage in Europe. But over the past weeks, the benchmark European gas prices were volatile amid strike threats in Australia.

While European buyers rarely import Australian LNG due to the long trip, Asia could see some of its Australian supply drop, intensifying competition with Europe for volumes from elsewhere.

On Monday, the front-month futures at the TTF hub, the benchmark for Europe’s gas trading, were up by 6.8% at $39.60 (36.85 euros) per megawatt-hour (MWh) as of 1:32 p.m., amid continued supply concerns.

Workers at Chevron’s LNG facilities Gorgon and Wheatstone began a strike on Friday after talks with the projects’ operator fell through. No deal is expected to be reached, Chevron Australia said on Monday, while workers at the local trade unions prepare for full-scale strikes.

In addition, outages in Norway – now Europe’s top gas supplier – due to regular maintenance also pushed gas prices higher on Monday.


By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News