US natural gas contract sink as much as 7.4% on Friday after a self-proclaimed trader posted on Twitter – since deleted – that “cracked pipes” had been discovered at the Freeport LNG export terminal in Texas, which could delay the company’s plan to restart exports.
Freeport LNG said the information was “false” and “illegal”, and it made no statement about restarting the liquefaction facility.
Nymex natural gas last month (NG1: COM) settled -5.7% on and -8.1% for the week is $5,879/MMBtu.
The US Federal Energy Regulatory Commission said last week that Freeport LNG Need more information to allow enough time to consider a plan to restart the facility, the second-largest liquefied natural gas exporter in the US
Freeport LNG expects the 2.1B cf/d plant to return to operation at least partially in early to mid-November; factory has closed on June 8 because of a pipeline explosion.