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Share Price: 491.30
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Change: 2.00 (0.41%)
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Small amounts of natural gas flowing to Freeport LNG plant in Texas

Thu, 21st Jul 2022 13:12

July 21 (Reuters) - Small amounts of natural gas were flowing from interstate pipelines to Freeport LNG's shuttered liquefied natural gas (LNG) export plant in Texas this week.

The company has long said it does not expect the plant to return to partial service until October but was not immediately available to explain the small amount of feed gas going to the plant.

Data provider Refinitiv said about 22 million cubic feet per day (mmcfd) of gas has been flowing to the plant since July 19.

That compares with an average of 2.0 billion cubic feet per day (bcfd) during the month before the plant shut after a fire and explosion on June 8.

Traders have said that if any gas was flowing to the plant - with such small amount it could be phantom flows - it was likely to test some equipment.

Federal regulators, including the U.S. Federal Energy Regulatory Commission (FERC) and the U.S. Department of Transportation's Pipeline and Hazardous Materials Safety Administration (PHMSA), have said they would not allow the facility to return to service until they approve the restart.

The shutdown of Freeport caused gas prices in Europe to jump about 40% in the following week because it reduced the volume of available LNG exports from the United States at a time when the world was short on gas supply.

Europe has been buying U.S. LNG heavily due to reduced flows from Russia following its invasion of Ukraine on Feb. 24 and subsequent sanctions placed on Moscow by the United States and its allies.

The Freeport shutdown also caused U.S. gas prices to drop more than 40% during the month after the outage because it left more fuel in the United States, allowing utilities to quickly rebuild low gas stockpiles.

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1 Feb 2024 17:03

LONDON MARKET CLOSE: Stocks down on hawkish BoE interest rates hold

(Alliance News) - Stock prices in London closed down on Thursday after the Bank of England left interest rates on hold in a split decision that was hawkish on expectations of rate cuts.

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1 Feb 2024 12:22

LONDON MARKET MIDDAY: BoE keeps bank rate on hold in split decision

(Alliance News) - London's FTSE 100 was on the up on Thursday afternoon after the Bank of England left interest rates on hold on Thursday, in a split decision.

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1 Feb 2024 10:06

New UK oil and gas exploration licences approved in the North Sea

(Alliance News) - The UK's oil and gas regulator has awarded 24 new exploration licences to 17 separate companies in a move that has been welcomed by a trade body but condemned by climate campaigners.

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1 Feb 2024 08:50

LONDON MARKET OPEN: Shells begins USD3.5 billion buyback; eyes on BoE

(Alliance News) - Stock prices in London opened mixed, ahead of the Bank of England's first interest rate decision of the year.

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30 Jan 2024 15:28

UK earnings, trading statements calendar - next 7 days

Wednesday 31 January 
Aberforth Smaller Companies Trust PLCFull Year Results
abrdn Private Equity Opportunities Trust PLCFull Year Results
Ecora Resources PLCTrading Statement
GSK PLCFull Year Results
ITM Power PLCHalf Year Results
NWF Group PLCHalf Year Results
Thursday 1 February 
Airtel Africa PLCTrading Statement
AG Barr PLCTrading Statement
BT Group PLCTrading Statement
Cranswick PLCTrading Statement
Gem Diamonds LtdTrading Statement
Glencore PLCTrading Statement
JTC PLCTrading Statement
Rank Group PLCHalf Year Results
Shell PLCFull Year Results
TClarke PLCTrading Statement
Friday 2 February 
YouGov PLCTrading Statement
Monday 5 February 
Home REIT PLCTrading Statement
Porvair PLCFull Year Results
Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
Tuesday 6 February 
Alumasc Group PLCHalf Year Results
BP PLCFull Year Results
Filtronic PLCHalf Year Results
Mattioli Woods PLCHalf Year Results
Renishaw PLCHalf Year Results
Virgin Money UK PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Jan 2024 17:25

London close: Stocks turn weaker ahead of busy week for earnings

(Sharecast News) - London's stock market saw slight declines by the close on Monday, as investors turned their attention to a week filled with corporate earnings reports and central bank announcements.

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29 Jan 2024 17:02

LONDON MARKET CLOSE: Stocks slightly down pre US Fed, Bank of England

(Alliance News) - Stock prices in London closed mutedly lower on Monday, ahead of a busy week of interest rate decisions and economic data.

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29 Jan 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 nudges higher ahead of rate decisions

(Alliance News) - Stock prices in London were mixed going into Monday afternoon, ahead of a busy week of interest rate decisions and economic data.

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29 Jan 2024 08:41

LONDON MARKET OPEN: BP, Shell higher amid Middle East tensions

(Alliance News) - Stock prices in Europe opened mostly lower, ahead of an important week of central bank decisions and economic data.

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26 Jan 2024 23:06

Equinor, Orsted bid for better contract in NY offshore wind auction

Jan 26 (Reuters) - New York State said on Friday it received bids to supply power from three offshore wind projects in its expedited fourth solicitation that allowed developers to exit old contracts and re-offer projects at higher prices.

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26 Jan 2024 17:02

LONDON MARKET CLOSE: Stocks up as Fed's preferred inflation read cools

(Alliance News) - Stock prices in London closed up on Friday, as investors predicted and responded positively to a cooling inflation read in the US.

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26 Jan 2024 13:16

Equinor sticks to 2030 renewables targets after US wind project reset

OSLO, Jan 26 (Reuters) -

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26 Jan 2024 12:11

LONDON MARKET MIDDAY: China growth measures and LVMH lift mood

(Alliance News) - Stock prices in London were up at midday, with investors optimistic ahead of a key US inflation reading.

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26 Jan 2024 10:03

Equinor sticks to 2030 renewables targets after US wind reshuffle

OSLO, Jan 26 (Reuters) - Norway's Equinor maintains an ambition to reach 12-16 gigawatts (GW) of installed renewable energy capacity by 2030, despite dropping out of some projects in New York, its renewables head told Reuters on Friday.

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26 Jan 2024 08:48

LONDON MARKET OPEN: Oil majors boost FTSE; LVMH lifts Burberry

(Alliance News) - The FTSE 100 looked set to end the week on a high note in early Friday trading, buoyed by strong US economic data and rising oil prices.

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