Freeport LNG gets FERC approval to restart last gas unit (NYSEARCA:UNG) - Seeking Alpha

Freeport LNG gets FERC approval to restart last gas unit (NYSEARCA:UNG) | Seeking Alpha

Freeport LNG gets FERC approval to restart last gas unit

The United States Natural Gas ETF, LP (UNG),
NG1:COM

FCG,

UNL,

BOIL,

KOLD,

UGAZF By:

Carl Surran, SA News Editor
21 Comments

posteriori/E+ via Getty Images

posteriori/E+ via Getty Images

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.