Today’s Fundamentals
Daily US natural gas production is estimated to be 96.1 Bcf/d this morning. Today’s estimated production is -2.38 Bcf/d to yesterday, and -2.28 Bcf/d to the 7D average. The drop in today mainly comes out of West Texas with looks to be related to maintenance on NGPL and Transwestern.
Natural gas consumption is modelled to be 78.1 Bcf today, -0.73 Bcf/d to yesterday, and -0.47 Bcf/d to the 7D average. US power burns are expected to be 37.5 Bcf today, and US ResComm usage is expected to be 8 Bcf. Low wind is expected to continue into the back half of this week after which we return to more normal level. This should lead to higher burns through this week.
Net LNG deliveries are expected to be 10.9 Bcf today. The last few days we have been seeing volatile production out of Cameron and Calcasieu Pass.
Mexican exports are expected to be 6.5 Bcf today, and net Canadian imports are expected to be 5 Bcf today.
For week ending Aug 12th, the S/D storage model is point to a +24 Bcf injection and flow model is point to a +33 Bcf . The flow model performance has been strong lately, hence we lean towards +28-29 Bcf this week.
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NatGas-Daily-Report-Aug-16-2022.pdf