Journalist Nicole Pollack explains how the 2022 fire and resulting shutdown at Texas's Freeport LNG export terminal caused domestic natural gas prices to fall.
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“Recently when Freeport LNG went offline because of a fire, and domestic prices actually fell a lot. And then when they extended that closure, prices fell again because there was too much LNG on the market because the entire market was kind of hinging on so much of the gas being exported to keep prices at the level that they were.”
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More from Nicole Pollack
AssertionSupported
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Federal courts repeatedly rule FERC inadequately evaluates LNG climate impacts
“Federal courts keep on finding that FERC needs to evaluate these projects' climate and environmental justice impacts a lot more thoroughly than it has been.”
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“About 10% of all of the natural gas produced in the U.S. Is exported, and any one of these facilities can process several percent of all of the consumer grade natural gas produced in the U.S. And ship it out around the world.”
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