Here is a look at the strong gas burns we continue to have relative to the past few years. As seen, the coal to gas switching dynamic took its own path this year despite natural gas prices moving higher in recent months. After $3.50 there doesn’t appear to be much extra coal generation to switch on to offset generation.
*only weekdays are shown in the graph above
Today’s Fundamentals
Daily US natural gas production is estimated to be 90.9 Bcf/d this morning. Today’s estimated production is -1.5 Bcf/d to yesterday, and -1.45 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 74.4 Bcf today, -0.47 Bcf/d to yesterday, and -0.58 Bcf/d to the 7D average. US power burns are expected to be 39 Bcf today, and US ResComm usage is expected to be 7.7 Bcf.
Net LNG deliveries are expected to be 10.9 Bcf today.
Mexican exports are expected to be 7.4 Bcf today, and net Canadian imports are expected to be 4.8 Bcf today.
The storage outlook for the upcoming report is +36 Bcf today.
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ION-Energy-Daily-Report-Aug-18-2021.pdf