A small fleet of LNG tankers is building up outside the US Freeport LNG plant as it looks to restart production after being out of action since June last year.

• The plant is still going through the required regulatory approval to be allowed to open – its restart date is not yet clear. Even if it opens in February, a full restart would likely take until March.
• The operators of Freeport have received permission from US regulator FERC to begin some initial restart work, although further permissions are still required.
• Waiting outside the port are three "Prism" vessels used by South Korea's SK Group, a ship belonging to Japan's JERA and one for BP. All are offtakers from Freeport.
• A return of Freeport would likely bring more bearish pressure to European gas prices which have slumped on warm weather and plentiful supplies this winter.
• Weaker gas prices may encourage industrial users back to the market which would see demand kick much higher. The steel and fertilizer industries in particular have seriously curtailed their demand because of high prices.