U.S. natgas falls 5% on delay of Freeport LNG plant restart

August 23, 2022 at 5:02 pm

Aug 23 (Reuters) – U.S. natural gas futures fell more than 5% on news of a further delay in the resumption of initial operations at the Freeport LNG export plant in Texas.

Freeport LNG said it expects partial recovery to begin in early to mid-November, not October as originally estimated. The company said it expects to ramp up to sustain 2 billion cubic feet per day production by the end of November. read more

Front-month gas futures for September shed 48.7 cents, or 5%,to settle at $9.193per million British thermal units. The session low was $9.050.