LNG

One of the most respected meteorologist groups in the United States has forecast a more active US Gulf Coast hurricane season in 2022 that would lead to the temporary shutting of oil and gas production and LNG export facilities.

The US Government forecasts that natural gas prices will remain high in the coming months because of a combination of more demand, lower short-term domestic natural gas production and the effects of Hurricane Ida on Gulf of Mexico output.

Hurricane Ida has made landfall in the US LNG hub state of Louisiana and came ashore as a Category 4 storm at Port Fourchon, a seaport with significant oil and natural gas industry offshore vessel supply traffic for Gulf of Mexico oil and platforms and drilling rigs.