Savvy Trades and Investments

[jtomm]

That was one of the things I found so odd about Freeport's latest PR. It seems self-contradictory:

"As of November 14th, the reconstruction work necessary to commence initial operations, including utilization of all three liquefaction trains, two LNG storage tanks and one dock, was approximately 90% complete, with all reconstruction work anticipated to be completed by the end of November."

Sounds reasonable enough. But then in the very next line, they're talking about "proposed remedial work" that still needs approval:

"Proposed remedial work activities for a safe restart of initial operations have been submitted to the relevant regulatory agencies for review and approval. Subject to Freeport LNG meeting its regulatory requirements, it is targeting initial production at the facility in mid-December."

Plus, these two articles seem to indicate that the regulators are a little pissed at the way Freeport is portraying things. On 11/15 Freeport released their root cause report PR, two days later the regulators seemed pissed and apparently released the full report:

https://marcellusdrilling.com/2022/11/phmsa-releases-redacted-version-of-freeport-lng-explosion-report/

And then on 11/18 the company issued it's latest PR, and a couple days later a Reuters article tells a very different story:

https://www.saltwire.com/cape-breton/business/freeport-lng-yet-to-submit-texas-plant-restart-request-to-regulator-source-100797869/