Posted on 06/10/2022 11:51:20 AM PDT by Mount Athos
Freeport LNG, operator of one of the largest US export plants producing liquefied natural gas (LNG), will shut for at least three weeks after an explosion at its Texas Gulf coast facility, raising the risk of gas shortages in Europe.
The plant, which provides about 20% of US LNG processing, announced the shutdown late on Wednesday after appraising damage to the massive facility.
On Thursday, European gas prices rose by up to a fifth as traders feared lost US shipments would stress a market already struggling with reduced Russian supplies.
If Europe wants to keep importing LNG at the same level, replacement cargoes will need to be pulled in, probably from other Atlantic Basin projects, according to Edmund Siau, LNG analyst at consultancy FGE.
(Excerpt) Read more at theguardian.com ...
Unexpectedly.
Well on the flip side . . .
NATURAL GAS (HENRY HUB)Commodity
8.83-0.17-1.89%
02:36:00 PMMI Indication
Sabotage no doubt..
They’re bringing the world to it’s knees so they can hand it over to Klaus Schwab and his Nazi Cult
Probably an inside job.
Screw Europe.
How about US?
IMO, ALL coordinated through our illustrious, diaper President’s cabal. His November disaster is coming and they’re pulling out all the stops.
Just like all those food processing businesses…
“Explosion”
What you said
“Screw Europe.
How about US?”
The United States has a HUGE surplus of natural gas. It is a waste product from fracking that is mostly “flared” off (Burned at the well site) because we have more than we can possibly use. Companies are busy building power plants where the gas comes up because it is effectively free. The US and Saudi Arabia are the only places where this is the case.
It costs money to freeze the gas so it can be piped or stored. Thus, by the time it gets to Europe it costs a fair amount. But much of that is profit that comes back here and feeds into the American economy.
Yes, it does make you think huh.
It’s a little too convenient.
Soros money buys lots of friends...
The whole fricking world better pull their heads out of their collective rears and re-evaluate the shutting down their nuclear reactors.
Well over 30 now...
There are no coincidences.
Well...
Yes, I agree.
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