U.S. Freeport LNG terminal resumes exports

On February 12, S&P Global Platts quoted trade flow data as saying that exports of liquefied natural gas (LNG) from Freeport in Texas had resumed. It is the first time cargo has been exported since the port was closed due to an explosion and fire last June.

Standard & Poor's stated that the "Kmarin Diamond" ofBP left the above-mentioned LNG export facility on the morning of the 12th and headed for Port Said. A second LNG carrier, the Prism Agility, was moored in Freeport at the time.

S&P said the activity suggested that the second-largest U.S. LNG export terminal could start producing large volumes of LNG for export in the coming weeks. Previously, regulators such as the U.S. Department of Transportation had not said when the plant would resume operations, saying certain repairs were still required.

U.S. natural gas rebounded more than 4% last week to $2.514 per million British thermal units, after hitting its lowest level since December 2020 the previous week.