Production rebounded yesterday in late-cycle noms from the low posted early in the morning. That being said, production is still off the levels seen over the weekend. Today’s production levels are 84.7 Bcf/d, but we expect that to be reposted to the ~86 Bcf/d level later today.
The drop in production yesterday came primarily from the Northeast due to scheduled maintenance on the Columbia Gas (TCO) system. TCO posted pipeline/valve maintenance at the MXP 100 location for Aug 11-16.
(http://www.columbiapipeinfo.com/infopost/)
The impact is not as large as seen yesterday morning with a good portion of the impacted gas being re-routed to TETCO. Flows should be back to normal by GD17.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 84.7 Bcf/d this morning. Today’s estimated production is -1.2 Bcf/d to yesterday, and -1.78 Bcf/d to the 7D average. We expect today’s levels to be reposted higher in later nomination cycles.
Natural gas consumption is modelled to be 76.8 Bcf today, -2.41 Bcf/d to yesterday, and +2.42 Bcf/d to the 7D average. US power burns are expected to be 42.74 Bcf today, and US ResComm usage is expected to be 8 Bcf.
Net LNG deliveries are expected to be 4.3 Bcf today.
Mexican exports are expected to be 6.1 Bcf today, and net Canadian imports are expected to be 5.2 Bcf today.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-Aug-12-2020.pdf