Natural Gas Slides in US as Blast-Hit Export Terminal Delays Restart
- Announcement means more gas will available for storage
- Delay may reduce link between US and European prices
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US natural gas prices tumbled after the operators of a key export terminal damaged in an explosion earlier this year announced a delay to the timeline for restart.
The Freeport liquefied natural gas terminal in Texas will begin initial production in early to mid-November, according to a statement Tuesday. Freeport LNG Development LP had previously said it was targeting a restart in October. The announcement means more gas will be available for domestic use to add to storage ahead of the winter, weighing on prices.