U.S. liquefied natural gas (LNG) company Freeport LNG’s export plant in Texas was on track to return to service on Thursday after shutting on Wednesday, according to data from financial firm LSEG and a company filing with Texas environmental regulators.
Freeport is one of the most-watched U.S. LNG export plants in the world because it has a history of swaying global gas prices when it shuts and restarts.
With Freeport down on Wednesday, expectations of lower amounts of gas flowing to LNG export plants helped cut U.S. gas futures by 3% to a one-week low, while expectations of less LNG supply helped boost European gas prices by 4% to a one-week high.
(Reporting by Scott DiSavino; Editing by Alex Richardson and Chizu Nomiyama)