Northeast production dropped below 34 Bcfd yesterday, and today we see early noms pointing to even lower production. We suspect there is new pipeline maintenance that is leading to the drop this week.
Weather continues to point to a very normal tame July. Today’s 00z run once again showed cooler weather, with the Euro Ensemble now well-below the 10Y normal. Here is the latest July outlook from Maxar which shows the PNW continue to keep the overall national average higher.
Today’s Fundamentals
Daily US natural gas production is estimated to be 90.1 Bcf/d this morning. Today’s estimated production is -1.56 Bcf/d to yesterday, and -2.15 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 75 Bcf today, +0.6 Bcf/d to yesterday, and +1.69 Bcf/d to the 7D average. US power burns are expected to be 40 Bcf today, and US ResComm usage is expected to be 8.4 Bcf.
Net LNG deliveries are expected to be 10.4 Bcf today.
Mexican exports are expected to be 7.5 Bcf today, and net Canadian imports are expected to be 5.5 Bcf today.
The storage outlook for the upcoming report is +50 Bcf today.
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ION-Energy-Daily-Report-July-13-2021.pdf