Freeport LNG To Shut For At least 3 Weeks After Fire Explosion At Texas Facility, Likely To Strain Global Gas Supply

Freeport LNG, one of the largest U.S. export plants producing liquefied natural gas (LNG), will shut for at least three weeks following an explosion at its Texas Gulf Coast facility.

The fire began just before noon local time on Wednesday (Jun 8) at the Freeport LNG facility on Quintana Island, the Houston-based, privately-owned company said.

"There were no injuries, all employees have been accounted for and there is no risk to the surrounding community. The incident investigation will continue," it added.

European natural gas futures contracts linked to TTF, Europe’s wholesale gas price, surged by over 12% following fears over the disruption over the accident.

The US, the world’s biggest natural gas producer, is trying to lure European nations away from dependence on Russian Gas. LNG exports hit a record 9.7 bcfd last year, according to the U.S. Energy Information Administration (EIA).