The Freeport LNG terminal in Texas started exporting LNG cargoes in mid-February for the first time since a fire and explosion in June 2022 forced a shutdown of the facility, marking a milestone in the history of US LNG. In the global LNG market, the Freeport outage initially exacerbated supply shortages that sent sky-high spot prices even higher. In the US, the shutdown took the lid off a really hot domestic gas market, as a key source of domestic demand went offline. But global LNG and US gas market dynamics have changed dramatically in the eight months since Freeport went offline.
In this episode, S&P Global Commodity Insights LNG experts Harry Weber and Corey Paul discuss these issues as Freeport returns, as well as LNG market fundamentals more broadly in the Atlantic.
Also listen: Have LNG and gas markets returned to normality in 2023?