RE:RE:RE:RE:RE:RE:Freeport setting up to reopen"Just my opinion, but when Freeport goes back online, I suspect the upward pressure on prices will be minimal and short-term." Yes now they will and a month from now even less but in September of last year it would of added to an already elevated domestic NG price and excacerbated inflation at a time when the US administration was trying to curb costs at any cost. Big heating and power bills to go with high gasoline prices would not have helped.
Anyway gas appears to be flowing into Freeport again in small amounts. Perhpas recommisioning is underway and we will soon see what affect it has.
https://oilprice.com/Latest-Energy-News/World-News/Pipeline-Gas-Flows-Resume-To-Freeport-LNG-Export-Terminal.html
GLTY and all
Yasch22 wrote: Yes, I see your point about how the shut-down of Freeport helped to lower prices in the USA, and Canada.
My point was only that the shutdown, especially in the first couple of months after the fire, was upward pressure on the price of LNG in Europe and Asia. Then both Europe and Asia fairly quickly figured out ways to increase supplies. Europe got extra gas from Norway & Netherlands, and extra LNG from, e.g., Qatar.
Just my opinion, but when Freeport goes back online, I suspect the upward pressure on prices will be minimal and short-term. As Houbahop keeps saying, it's almost impossible to stop producers from piling on. Here's the latest extended EIA Drilling and Productivity Report. DUCs were declining until October of 2022, but now they're on the rise again.
https://ycharts.com/indicators/reports/drilling_productivity_report/indicators/1