Today’s Fundamentals
Daily US natural gas production is estimated to be 98.6 Bcf/d this morning. Today’s estimated production is -0.45 Bcf/d to yesterday, and -1.04 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 80 Bcf today, -2.71 Bcf/d to yesterday, and -0.8 Bcf/d to the 7D average. US power burns are expected to be 41.2 Bcf today, and US ResComm usage is expected to be 8 Bcf. We have seen a big recovery in Wind generation the last few days. On the thermal generation side, natural gas continues to hold a 65-68% share despite the big moves in price. Below is the updated chart with the last 14 days highlighted. With current trends in coal S/D, we expect this picture to hold through the winter.
Net LNG deliveries are expected to be 11.1 Bcf today.
Mexican exports are expected to be 6.8 Bcf today, and net Canadian imports are expected to be 6 Bcf today.
For week ending Aug 26th, the S/D storage model is point to a +56 Bcf injection and flow model is point to a +65 Bcf. Our official estimate takes the middle ground this week with a 60 Bcf injection estimate.
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NatGas-Daily-Report-Aug-31-2022.pdf