U.S. production has continues to stay lower after the TCO outage earlier this week. TCO has indicated the forced majeure will continue atleast through to July 13th.
Latest Notice from July 7th
“TCO currently expects the Force Majeure will continue at least through and including Gas Day Monday, July 13, 2020. TCO reminds customers that indicated capacity restrictions are estimates and may fluctuate during the unplanned outage. TCO will provide additional updates as information becomes available, and customers can expect an update no later than Monday, July 13, 2020.”
It’s not all bad news for Northeast production thought. We see that most of the Northeast production has resumed by finding its way back onto other interstate pipelines. Today’s nominations show only 0.3 Bcf/d lower than July 6th.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 83.4 Bcf/d this morning. Today’s estimated production is -0.72 Bcf/d to yesterday, and -1.4 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 76.0 Bcf today, -1.34 Bcf compared to the yesterday and +1.30 Bcf to the 7D average. US power burns are expected to be 43.3 Bcf today, and US ResComm usage is expected to be 7.6 Bcf.
Net LNG deliveries are expected to be 3.1 Bcf/d today.
Mexican exports are 6.3 Bcf/d. Net Canadian imports are 4.7 Bcf/d.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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-July-10-2020.pdf