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Methane-Based Gas Plant Explosion Sends Shockwaves Through Market

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The Freeport LNG export facility will be fully out of commission until September and will not be fully up and running

Gas futures fell dramatically in response to the news, reflecting how high gas prices in the U.S., a major driver of inflation while firms reap record profits, have been

. It also significantly affects the Biden administration’s efforts to export more liquified methane-based gas to Europe. The facility accounted for about one-fifth of U.S. exports.

 

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