US production was higher this weekend with the Northeast region higher by 0.5 Bcf/d relative to the past week. The average L48 production was 86.7 Bcf/d over the weekend vs. 86.3 Bcf for week ending August 7th.
US LNG deliveries also trended higher this week. From last week’s <4Bcf/d, we hit 4.3 Bcf/d this weekend. The jump is continues to show that July was the peak of cargo cancellations.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 86 Bcf/d this morning. Today’s estimated production is -0.75 Bcf/d to yesterday, and -0.36 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 76.2 Bcf today, +0.09 Bcf/d to yesterday, and +3.05 Bcf/d to the 7D average. US power burns are expected to be 40.24 Bcf today, and US ResComm usage is expected to be 7.4 Bcf.
Net LNG deliveries are expected to be 4.5 Bcf today.
Mexican exports are expected to be 5.9 Bcf today, and net Canadian imports are expected to be 4.7 Bcf today.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-Aug-10-2020.pdf