Today’s Fundamentals
Daily US natural gas production is estimated to be 94.4 Bcf/d this morning. Today’s estimated production is -0.08 Bcf/d to yesterday, and -0.1 Bcf/d to the 7D average. Northeast production is till hovering around 33 Bcf/d which is ~2 Bcf/d lower than the levels seen in December.
Natural gas consumption is modelled to be 115.8 Bcf today, +0.59 Bcf/d to yesterday, and -3.9 Bcf/d to the 7D average. US power burns are expected to be 31 Bcf today, and US ResComm usage is expected to be 50.1 Bcf.
Net LNG deliveries are expected to be 13.2 Bcf today. Feedgas deliveries to Venture Global LNG’s Calcasieu Pass reached the highest levels seen yesterday. All 18 liquefaction modules have been received from Italy and set in it’s foundations. Earlier this month, the terminal received US regulatory approval to begin commissioning the first two-train block with feedgas. At Freeport LNG, utilization to have recovered today after an unplanned outage over the weekend. 2 trains were impacted.
Mexican exports are expected to be 5.8 Bcf today, and net Canadian imports are expected to be 7 Bcf today.
The storage outlook for the upcoming report is -220 Bcf today.
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ION-Energy-Daily-Report-Jan-25-2022.pdf