It’s officially summer, and total natgas consumption is starting to rise quickly.
We’re expecting to power demand to increase over the coming week, while rescomm demand has bottomed out around 7-8 Bcf/d. Today, power natgas consumption is expected to be 37.8 Bcf/d.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 84.5 Bcf/d this morning. Today’s estimated production is -0.31 Bcf/d to yesterday, and -0.1 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 68.6 Bcf today, +2.5 Bcf compared to yesterday and +1.75 Bcf to the 7D average. US power burns are expected to be 37.8 Bcf today, and US ResComm usage is expected to be 7.6 Bcf.
Net LNG deliveries are expected to be 4.1 Bcf/d today.
Mexican exports are 5.8 Bcf/d. Net Canadian imports increased to 4.0 Bcf/d.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-June-22-2020.pdf