Daily Market Report – July 30, 2021

TETCO flows expected to be back on Aug 4^th, hence the drop in price yesterday after hours. It really should not be a big impact to flows North-to-South on TETCO, but this FM was what originally set the market off in late-May

Here is the pipeline notice:

Texas Eastern (TE) is providing the following update on its 30-inch pipeline system between its Kosciusko and Uniontown segment.

TE has provided its engineering assessment to PHMSA and has continued its conversations with the agency. Subsequently, PHMSA reviewed the engineering assessment and has provided approval for TE to recommence operations of the 30″ system at its full operating pressure. TE is currently in the process of completing its Management of Change (MOC) process to allow the system to operate at full operating pressure consistent with PHMSA’s approval process described in previous postings. Effective Gas Day August 4, TE anticipates capacity through Danville will initially increase to 1,850,000 Dth/d. Capacities are anticipated to periodically change due to on-going operating conditions, system outages and other maintenance occurring on TE’s 30″ system. Please refer to TE Major Service Outage postings for an overview of on-going maintenance work and the anticipated capacities across TE’s 30″ and CRP systems.

https://infopost.enbridge.com/infopost/NoticeListDetail.asp?strKey1=110777&type=CRI&embed=&pipe=TE

The EIA reported an injection of 36 Bcf natural gas into storage for the week ended July 23. The report was bullish relative to analysts’ expectations and historic average.

Today’s Fundamentals

Daily US natural gas production is estimated to be  91.5 Bcf/d this morning. Today’s estimated production is -0.48 Bcf/d to yesterday, and -0.85 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 77.8 Bcf today,  -4.4 Bcf/d to yesterday, and -4.17 Bcf/d to the 7D average. US power burns are expected to be 39.4 Bcf today, and US ResComm usage is expected to be 8 Bcf.

Net LNG deliveries are expected to be 10.8 Bcf today.

Mexican exports are expected to be 7.3 Bcf today, and net Canadian imports are expected to be 5.1 Bcf today.

The storage outlook for the upcoming report is +13 Bcf today. We see a net draw out of the South Central due to the hot temps and low wind output. The few Salt facilities we have daily visibility to do show draws.

Pine Prairie -3 Bcf

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