"Explosion at Texas LNG Plant Puts Added Strain On Global Energy Market"

"The Freeport LNG facility processes 20 percent of U.S. exports and will be offline for at least three weeks, officials say"

"An explosion at a major natural gas production facility in Texas could knock the plant off line for at least three weeks, company officials said Thursday, roiling global energy markets at a time when supplies are already stretched thin.

The cause of the Wednesday blast at the Freeport LNG facility in Quintana is not clear, the company said. There were no injuries and all employees have been accounted for, spokeswoman Heather Browne told The Washington Post.

The natural gas liquefaction plant is one of the largest in the world and is a major exporter to Britain and other parts of Europe. The energy markets have been volatile for months because of inflation and Russia’s invasion of Ukraine, pressing U.S. production and exports into overdrive.

A prolonged closure of the Freeport facility could have a significant effect on energy prices, experts warn, especially as markets gear up for a summer demand surge."

Jacob Bogage reports for the Washington Post June 9, 2022.

 

Source: Washington Post, 06/10/2022