For the storage report for week ending Aug 7, our estimates are pointing to a 59 Bcf injection. The S/D balances are looser week-on-week, with only power consumption dropping considerably due to cooler (more normal) temps. As we have reported, LNG deliveries did pick up during the first week of August. The average during the storage week jumped by 0.8 Bcf/d to 3.9 Bcf/d.
The current Bloomberg survey sits at 56 Bcf.
Data from the DTI, TCO (Columbia Gas) and SSE (Southern Star) continue to show injection. DTI is 75% full, TCO is 74% full, and SSE is 89% full. As seen in the chart, the DTI storage levels are now within the 5Yr range, along with TCO and SSE.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 85 Bcf/d this morning. Today’s estimated production is -0.2 Bcf/d to yesterday, and -1.37 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 77.1 Bcf today, -1.43 Bcf/d to yesterday, and +1.45 Bcf/d to the 7D average. US power burns are expected to be 42.84 Bcf today, and US ResComm usage is expected to be 8 Bcf.
Net LNG deliveries are expected to be 4.5 Bcf today.
Mexican exports are expected to be 6.2 Bcf today, and net Canadian imports are expected to be 5.1 Bcf today.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-Aug-13-2020.pdf