Freeport LNG, TC Energy: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

LNG
FERC Approves Freeport LNG Completion of Phase I Restart - The U.S. Federal Energy Regulatory Commission (FERC) on Wednesday granted Freeport LNG's (Houston, Texas) request to return to service the last of its three gas liquefaction units and Phase I facilities at its export plant in Texas. The company restarted its second liquefaction unit last week. The FERC order said Freeport can produce liquefied natural gas (LNG) up to the maximum authorized capacity of 782 billion cubic feet (Bcf) per year, or about 2.14 Bcf per day. "A conservative ramp-up profile to establish full three-train production is anticipated to occur over the next few weeks," Freeport said in a statement.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)

CRUDE OIL
U.S. Crude Oil Inventories Decline - U.S. crude oil stockpiles fell last week, breaking a 10-week streak of builds, while distillate inventories rose to the highest level in over a year, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude oil inventories fell by 1.7 million barrels to 478.5 million barrels in the week ending March 3. U.S. gasoline stocks fell by 1.1 million barrels in the week to 238.1 million barrels. Distillate stockpiles rose by 0.1 million barrels in the week to 122.3 million barrels, the highest since January 2022, the EIA data showed. (Reuters)

PIPELINES
U.S. Regulators Order Lower Pressure on Keystone Pipeline After Spill - The U.S. pipeline regulator said on Tuesday it would require TC Energy Corporation (NYSE:TRP) (Calgary, Alberta) to reduce operating pressure on more than 1,000 additional miles of its Keystone Pipeline that spilled about 13,000 barrels of oil in rural Kansas in December. The company completed a controlled restart of the 622,000-barrel-per-day pipeline on December 29 last year, returning it to service after a 21-day outage following the biggest U.S oil spill in nine years. The amended corrective action order requires TC Energy to keep the operating pressure on the affected pipeline segment under the previously agreed upon 923-pounds-per-square-gauge limit. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).