2023-03-08 16:54:13 ET
Freeport LNG was granted permission Wednesday by the Federal Energy Regulatory Commission to commission, cool down and return to service the last of its three gas liquefaction units and phase 1 facilities at its export plant in Texas.
FERC's order said Freeport LNG can produce liquefied natural gas only up to the maximum authorized capacity of 782B cf/year, or ~2.14B cf/day.
The LNG export facility, the second biggest in the U.S., started last month to exit an eight-month outage that was caused by a fire last June, and it restarted its second liquefaction unit last week.
Front-month Nymex natural gas ( NG1:COM ) for April delivery settled -5% Wednesday to $2.551/MMBtu.
ETFs: ( NYSEARCA: UNG ), ( UGAZF ), ( BOIL ), ( KOLD ), ( UNL ), ( FCG )
U.S. natural gas fell 14% on Monday after soaring 18% last week in its best weekly rally since November .
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Freeport LNG gets FERC approval to restart last gas unit