Natural gas prices are lower this morning with both the Euro Ensemble and GFS Ensemble pointing to cooler temp in the overnight runs. The 00z run lost CDDs in both the 6-10 and 11-15 day range.
For this week’s storage report our estimates are pointing to a 39 Bcf injection. The tighter balances week-on-week was mainly a result of increased power burns and LNG deliveries bouncing slightly off the lows set the previous week. The current Bloomberg survey sits at 36 Bcf.
Data from the DTI, TCO (Columbia Gas) and SSE (Southern Star) showed injection levels similar to last week. These facilities are showing storage levels well past last year’s levels with DTI bring 73% full, TCO being 66% full, and SSE being 88% full.
|
Storage Week Ending Jul 17, 2020 |
|
|
||
|
|
vs. Last Week |
vs. Last Year |
Current Storage Level |
% of Peak Recorded |
|
DTI |
+4 |
+40 |
216 |
73% |
|
Hardy |
-0.2 |
+0.4 |
11.2 |
84% |
|
Columbia Gas |
+8.3 |
+14.5 |
169.5 |
66% |
|
Southern Star |
+0.6 |
+9.8 |
39.9 |
88% |
Today’s Fundamentals:
Daily US natural gas production is estimated to be 85.4 Bcf/d this morning. Today’s estimated production is -0.13 Bcf/d to yesterday, and -0.75 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 76.1 Bcf today, -1.73 Bcf compared to the yesterday and -0.06 Bcf to the 7D average. US power burns are expected to be 44.3 Bcf today, and US ResComm usage is expected to be 7.7 Bcf.
Net LNG deliveries are expected to be 3.6 Bcf/d today.
Mexican exports are 6.3 Bcf/d. Net Canadian are 3.9 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-22-2020.pdf