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.
The facility operates three LNG trains capable of producing approximately 15 million tonnes per year (mtpa) of LNG. The majority of LNG produced is contracted under 20-year tolling agreements with customers in Japan. The terminal is the largest fully electric motor drive natural gas liquefaction plant in the world, which can reduce emissions by over 90% compared to plants using combustion turbines.
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).
An appeal from Swarajya
At Swarajya, we rely on our readers' support through subscriptions to sustain our media platform. Unlike larger conglomerates, we are unable to relentlessly chase advertising money — our model is largely built on your patronage.
Your support has never been more crucial. We work tirelessly to deliver 10-15 high-quality articles daily, ensuring you receive insightful content from 7 AM to 10 PM.
If you believe India's story has to be articulated in a way it has never been done before without shrugging it off, become a patron (or) subscribe now for ₹̶2̶4̶0̶0̶ ₹1999 and get 12 print issues, unlimited digital access for 1 year, a special India that is Bharat T-shirt (Offer ends soon).
We are counting on you!