U.S. exports of liquefied natural gas (LNG) rebounded in May as the country’s second-largest exporter returned to full production. Exports jumped to 7.60 million metric tons (MT) in May from 6.19 million MT in April. The new high is just below the 7.61 MT exported in March.

Earlier in 2024, Freeport LNG, which can produce 15 million metric tons per annum (MTPA), experienced mechanical problems that led to the closure of three of its processing units for almost two months. For the eight months from June 2022 to February 2023, Freeport LNG remained shut after a fire. Due in part to the shutdown, global gas prices spiked to record highs in Europe and Asia over the summer of 2022. Ahead of the winter demand surge, permission to return to full operation was granted by the Federal Energy Regulatory Commission (FERC) in November 2022.

In December 2023, Freeport agreed with the U.S. Environmental Protection Agency to settle safety violations related to a June 2022 blast that caused some $275 million in damage to the facility.