Freeport LNG extends outage after fire, targets year end for full operations

Freeport LNG, one of the largest operators of liquefied natural gas export terminals in the United States, on Tuesday said the damage from last week's fire at its Texas plant would keep it fully offline until September with only partial operation through to the year end.

Natural gas prices slumped in the United States and soared in Europe on the news of an extended shutdown at facility that accounts for about 20% of US LNG exports and has been a major supplier to European buyers seeking alternatives to Russian gas since its invasion of Ukraine.