LNG feedgas noms are back above 11.2 Bcf/d this morning after a small decrease in flows to Corpus Christie Train 3 yesterday. We should expect levels at the terminal to remain at these levels with Cheniere reporting yesterday that they loaded the first commissioning cargo from the new train onto the La Mancha Knutsen LNG Tanker.
Additionally, they noted the unit was tracking ahead of schedule.
For this week’s storage report, we are expecting -76 Bcf storage draw for week ending Dec 4th. The Bloomberg whisper is currently at -86 Bcf. This would be the highest draw of the season so far.
Below are the weekly reported volumes from the Northeast storage facilities. All reporting a draw.
Today’s Fundamentals
Daily US natural gas production is estimated to be 90.5 Bcf/d this morning. Today’s estimated production is -0.17 Bcf/d to yesterday, and -0.46 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 98.7 Bcf today, -1.2 Bcf/d to yesterday, and +2.43 Bcf/d to the 7D average. US power burns are expected to be 29.94 Bcf today, and US ResComm usage is expected to be 39.2 Bcf.
Net LNG deliveries are expected to be 11.2 Bcf today.
Mexican exports are expected to be 6.3 Bcf today, and net Canadian imports are expected to be 5.9 Bcf today.
This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.
ION-Energy-Daily-Report-Dec-08-2020.pdf