Today’s Fundamentals
Daily US natural gas production is estimated to be 96.3 Bcf/d this morning. Today’s estimated production is -0.32 Bcf/d to yesterday, and -0.64 Bcf/d to the 7D average. Production regained +0.6 Bcf/d in the evening cycle yesterday, which helped erase some of the early losses. That being said, overall production levels are still off the weekend highs.
Natural gas consumption is modelled to be 85.1 Bcf today, +0.46 Bcf/d to yesterday, and +3.27 Bcf/d to the 7D average. US power burns are expected to be 47 Bcf today, and US ResComm usage is expected to be 8.9 Bcf. With the intense heat coming back to the South, burns are expected to hit a new peak level today.
Net LNG deliveries are expected to be 10.6 Bcf today. Deliveries have been off this past week, with all plants lower. We figure the intense heat is reducing plant operations. Sabine is expected to received less than 4 Bcf/d today.
Mexican exports are expected to be 7.3 Bcf today, and net Canadian imports are expected to be 0 Bcf today.
The storage outlook for the upcoming report is +44 Bcf today.
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NatGas-Daily-Report-July-20-2022.pdf