LNG Export Reduction Will Keep Natural Gas Tamed For Now

Freeport LNG facility is down for a minimum of 3 weeks following an explosion yesterday. The ~2.1 Bcf/d facility outage caused natural gas prices to crater. Prices have rebounded since but remain around $9/MMBtu.

With the outage lasting at least 3-weeks, we know the minimum amount of storage impacted will be ~42 Bcf. The reduction in LNG exports will las…