Freeport LNG has declared a force majeure on LNG exports from its Gulf Coast location until September, Bloomberg sources said on Friday. The company had reported earlier in the week that its Gulf Coast facility would be completely offline through September when it would operate in a partial capacity through the end of the year. It did not, however, specify a force majeure. The original estimate for Freeport LNG’s outage was three weeks, but the estimate was quickly revised to span until September as the damage from a fire last week was assessed. As a result, U.S. LNG exports are expected to remain subdued at least through September. This would keep more LNG for domestic use beyond what the market requires—a reality that has sent U.S. LNG prices down. On the other hand, Europe, starving for LNG imports from anywhere that isn’t Russia, has seen higher LNG prices as […]