Tankers Bound for Freeport LNG Divert to Trinidad, Maryland

The loss of Freeport LNG has European LNG buyers and some U.S. shale producers reeling, while rivals Cheniere Energy and Sempra LNG rush to produce more LNG to offset the losses.

Marianna Parraga, Reuters

At least six tankers set to load LNG at Freeport LNG this month have been diverted following the June 8 blast that shut the Texas facility, Refinitiv Eikon vessel tracking data showed.

A partial restart of the Quintana, Texas, plant is not expected until at least September, the company said last week, leaving about 40 cargoes to be canceled or rescheduled. The loss has European LNG buyers and some U.S. shale producers reeling, while rivals Cheniere Energy and Sempra LNG rush to produce more LNG to offset the losses.

Freeport accounts for roughly 20% of U.S. LNG processing capacity, drawing 2.1 Bcf/d of natural gas, primarily from U.S. shale fields. Natural gas prices have slumped in the United States and soared in Europe on the extended shutdown.

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