North America gas weekly update: Freeport LNG readies for cool down

Despite news of Freeport LNG getting closer to restarting operations since its outage in early June, perhaps the damage has already been done. Another mild weather week is expected to limit storage withdrawals and further increase its surplus versus January’s historical normal. Henry Hub gas prices are unable to find support even with the potential return of colder weather ahead. Nevertheless, Freeport’s progress is welcome news for European markets that will hope to see increased availability of US LNG exports this spring to help refill storage adequately before next winter. Find out more about what is driving the North American gas market: • How large will freeze-off impacts be in the next round of cold weather? • Can storage withdrawals return above -200 bcf? • Will the storage surplus narrow in February?