L48 production is starting February much lower across the South Central and Northeast. The drop could be tied to 1st of month nomination noise that we typically see. We expect the Northeast production levels to be revised higher over the next few days. The South Central drop might not be as clear as the drop was across multiple pipelines from Texas to the Midcon.
Today’s Fundamentals
Daily US natural gas production is estimated to be 93.8 Bcf/d this morning. Today’s estimated production is -2.37 Bcf/d to yesterday, and -1.68 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 103.2 Bcf today, -8.7 Bcf/d to yesterday, and -16.01 Bcf/d to the 7D average. US power burns are expected to be 28.6 Bcf today, and US ResComm usage is expected to be 40.5 Bcf.
Net LNG deliveries are expected to be 11.5 Bcf today. Both Sabine and Freeport were lower. Sabine was likely out with commissioning activity at T6, while Freeport had a trip on T1.
Mexican exports are expected to be 6.3 Bcf today, and net Canadian imports are expected to be 7 Bcf today.
The storage outlook for the upcoming report is -281 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-Feb-01-2022.pdf