Ukraine (bbabo.net), - Freeport LNG plant in the US promises to quickly return to full capacity. It accounts for 15% of US LPG exports.
The U.S. regulator has authorized the immediate launch of the first stage of the LNG plant and the gradual restoration of the work of the second, according to Freeport LNG Development. According to the company, the launch of the third stage depends on the need for additional approval from the regulator when all its requirements are met.
Nevertheless, Freeport LNG plans to reach its full capacity of 56 million cubic meters per day in a few weeks, the operator reports.
In June, there was a fire at the LNG terminal and it stopped for 8 months. In mid-February, the plant began to receive gas and make the first shipments. According to RonhEnergy, gas supplies to the plant are up to 14 million cubic meters per day. And several tankers have already managed to take the cargo. So, LNG Rosenrot is heading to the German Bransbüttel, and Prism Agility is heading to the Chinese Zhoushan.
Four more LNG carriers are waiting to be loaded at the anchorage at the LNG terminal, according to Vesselfinder.
As bbabo.net reported, on February 14, the United States set a new record for gas deliveries to LNG export terminals. They amounted to 371 million cubic meters per day. Yesterday, however, they dropped to 357 million cubic meters. But as Freeport LNG resumes operations, it should exceed the psychological threshold of 400 million cubic meters per day. The share of the plant itself will be 15%.
According to the US Department of Energy Information Administration (EIA) as of December 2022, no other launches of LNG terminals are planned in 2023.
The International Energy Agency (IEA) stated that this year Europe could experience a shortage of up to 57 billion cubic meters of gas. Among the reasons - the recovery of demand in China and the growth of imports by 21 billion cubic meters. These volumes will just be able to compensate for the return of Freeport LNG to the market.
The IEA urges EU countries to save gas even more, however, as the European Commission's economic forecast says, demand for fuel can only grow. Due to lower prices, enterprises can increase consumption, which became the main force that saved EU gas due to production shutdowns or capacity cuts.