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Bullboard - Stock Discussion Forum Nuvista Energy Ltd NUVSF


Primary Symbol: T.NVA

NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the... see more

TSX:NVA - Post Discussion

Nuvista Energy Ltd > Freeport LNG Expects Trains 1 and 2 at Texas Facility to Rem
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Post by Carjack on Mar 20, 2024 11:02am

Freeport LNG Expects Trains 1 and 2 at Texas Facility to Rem

(Reuters) — Freeport LNG said on Wednesday that trains 1 and 2 at its liquefied natural gas (LNG) facility in Texas are anticipated to be down until May, while train 3 is now back online.

"Train 2 liquefaction unit is now offline, and our train 1 liquefaction unit will be taken down imminently," a company spokesperson told Reuters in an email.

The spokesperson also said that repairs pertaining to train 1 and 2 will be completed in May.

Each liquefaction train at Freeport can turn about 0.7 billion cubic feet per day (Bcf/d) of gas into LNG.

"It was during the January freeze that damage occurred in one of the Train 3 motors. Once we understood the cause of the damage, we knew it would be prudent to take proactive steps to inspect our other two trains," the spokesperson added.

Earlier in the day, the company said that after maintenance work, Freeport LNG’s production capacity will increase by 10% from 15 million metric tons a year (mpta) to just over 16.5 mtpa roughly by June. Additionally, the company noted that its train 4, which has received all regulatory approvals, will add another 25% of LNG production capacity when it becomes operational.

Freeport LNG, one of the largest U.S. operators of LNG export terminals, experienced a significant fire in 2022.

The U.S. was the largest exporter of LNG globally in 2023, according to the U.S. Energy Information Administration, and was also the largest exporter of LNG to Europe.

 
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