Today’s Fundamentals
Daily US natural gas production is estimated to be 96.1 Bcf/d this morning. Today’s estimated production is -0.52 Bcf/d to yesterday, and +0.29 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 74.5 Bcf today, -1.76 Bcf/d to yesterday, and -5.12 Bcf/d to the 7D average. US power burns are expected to be 28.3 Bcf today, and US ResComm usage is expected to be 18.6 Bcf. Nuke gen continues to drop, but luckily wind/solar have been performing at elevated levels.
Net LNG deliveries are expected to be 11 Bcf today. Cheniere moved is Creole Trail maintenance up by a week leading to a drop in Sabine volumes. This maintenance is expected to last 2 days.
Mexican exports are expected to be 6.7 Bcf today, and net Canadian imports are expected to be 5.1 Bcf today.
For week ending Apr 8th, our S/D storage model is pointing to a +23 Bcf injection while our flow model points to a slight higher draw of +27 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. Unlike last week where there was a large discrepancy between the two models, this week they are tight. We typically find the flow models are more accurate during the shoulder season, or weeks weather transitioning from HDDs to CDDs.
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ION-Energy-Daily-Report-Apr-12-2022.pdf