For the storage report for week ending Aug 14, our estimates are pointing to a 39 Bcf injection. The S/D balances is tighter week -on-week, with power gen and LNG deliveries adding to total demand. LNG during the storage week increased by 0.5 Bcf/d to average 4.4 Bcf/d.
Data from the DTI, TCO (Columbia Gas) and SSE (Southern Star) continue to show injection. DTI is 76% full, TCO is 76% full, and SSE is 88% full. As seen in the charts below, all four storage facilities are now within or close to the 5Yr range.
The EIA released the DPR report yesterday with most oil and gas shale basins showing a small decrease in production from August to September.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 85.4 Bcf/d this morning. Today’s estimated production is -1.23 Bcf/d to yesterday, and +11.48 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 75.1 Bcf today, -0.56 Bcf/d to yesterday, and -2.41 Bcf/d to the 7D average. US power burns are expected to be 404 Bcf today, and US ResComm usage is expected to be 8.1 Bcf.
Net LNG deliveries are expected to be 4.6 Bcf today.
Mexican exports are expected to be 5.3 Bcf today, and net Canadian imports are expected to be 4.5 Bcf today.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-Aug-18-2020.pdf