Freeport LNG CEO Michael Smith joined us to talk about the state of the market, his company's expansion plans, climate concerns and the start of the Atlantic hurricane season. Activity has started picking up for US developers of new liquefaction terminals after a two-year lull in firm commercial deals that predated the coronavirus pandemic. For existing exporters, global gas and LNG forward prices are trending strong and relatively stable, pointing to a long runway for exporters to enjoy healthy netbacks on deliveries to Europe and Asia, buffeted by cheap feedgas costs due to low US Henry Hub prices. Feedgas deliveries to US LNG export terminals have recently been averaging over 11 Bcf/d, implying utilization of over 90%. Later this year, a seventh major US LNG export terminal could start up and a sixth train at Cheniere Energy’s Sabine Pass could begin production.