Daily Market Report – Aug 03, 2022

Today’s Fundamentals

Daily US natural gas production is estimated to be  96.2 Bcf/d this morning. Today’s estimated production is -0.67 Bcf/d to yesterday, and -1.61 Bcf/d to the 7D average. It looks like production for Aug 1^st is settling around 97.2 Bcf/d, which is inline with late-July before the big burst in production we saw over the weekend.

[I put some rough notes together on the impact of MVP potentially coming on. Send me an email at het@analytix.ai if you would like to get it]

Natural gas consumption is modelled to be 81.7 Bcf today,  -1.48 Bcf/d to yesterday, and +0.23 Bcf/d to the 7D average. US power burns are expected to be 43.1 Bcf today, and US ResComm usage is expected to be 8.4 Bcf. Higher levels of wind are helping keep burns lower despite the rise in CDDs over the next few days.

Net LNG deliveries are expected to be 11.1 Bcf today. Calcasieu Pass is still pushing around 1.5 Bcf/d.

Mexican exports are expected to be 5.7 Bcf today (but these are artificially low because IENOVA pipes into Mexico are reporting bad data), and net Canadian imports are expected to be 5.7 Bcf today.

For week ending July 29th, the S/D storage model is point to a +33 Bcf injection and flow model is point to a +42 Bcf . For this week’s official estimate, we take the middle ground between the two model at +37 Bcf.

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