Today’s Fundamentals
Daily US natural gas production is estimated to be 94.8 Bcf/d this morning. Today’s estimated production is +0.68 Bcf/d to yesterday, and -0.43 Bcf/d to the 7D average. Production has struggled with the start of this year with Northeast production coming off significantly this past weekend.
Natural gas consumption is modelled to be 107.1 Bcf today, -4.02 Bcf/d to yesterday, and -3.13 Bcf/d to the 7D average. US power burns are expected to be 29.5 Bcf today, and US ResComm usage is expected to be 43.5 Bcf.
Net LNG deliveries are expected to be 12.3 Bcf today. From Jan 14-17, total LNG deliveries were over 13 Bcf/d. The drop today was primarily due to Sabine nominating lower intake.
Mexican exports are expected to be 6.4 Bcf today, and net Canadian imports are expected to be 6.8 Bcf today. Net Canadian imports jumped over 7 Bcf/d this past weekend and L48 production came off. The last time we saw Canadian imports jump over these levels was last year during Winter Storm Uri.
The storage outlook for the upcoming report is -200 Bcf today.
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ION-Energy-Daily-Report-Jan-18-2022.pdf