Today’s Fundamentals
Daily US natural gas production is estimated to be 93 Bcf/d this morning. Today’s estimated production is -1.48 Bcf/d to yesterday, and -2.43 Bcf/d to the 7D average. We have seen a big slide in production from the SC and Northeast this week.
Natural gas consumption is modelled to be 75.9 Bcf today, -2.72 Bcf/d to yesterday, and -4.69 Bcf/d to the 7D average. US power burns are expected to be 27 Bcf today, and US ResComm usage is expected to be 21.3 Bcf. Nuclear power has been consistently dropping as units start maintenance.
Net LNG deliveries are expected to be 11.7 Bcf today. Corpus Christie and Freeport are both lower today.
Mexican exports are expected to be 6.2 Bcf today, and net Canadian imports are expected to be 5.6 Bcf today.
The storage outlook for the upcoming report is -22 Bcf today.
For week ending Apr 1st, our S/D storage model is pointing to a -22 Bcf draw while our flow model points to a much higher draw of -37 Bcf. Below is the regional break down of the flow based model + the week storage activity at the 4 facilities that report on a weekly basis. The discrepancy between the two models is quite wide this week.
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ION-Energy-Daily-Report-Apr-05-2022.pdf