Today’s Fundamentals
Lower 48 production still hovered near a weak 92 Bcf/d, with no region yet staging a big recovery.
Daily US natural gas production is estimated to be 93.1 Bcf/d this morning. Today’s estimated production is -0.09 Bcf/d to yesterday, and -0.46 Bcf/d to the 7D average. We still have not seen a big recovery in production from neither the South Central or the Northeast as weather eases. Northeast production remains around 33 Bcf/d, which is 2 Bcf/d below its high level. The SC production is also 1-2 Bcf/d below where it should be. As we discussed in the weekend report, the rumor is that there was a fire at Aetheon processing plant (no official statement) in Bienville county. This is impacting Haynesville production.
Natural gas consumption is modelled to be 79.8 Bcf today, -5.08 Bcf/d to yesterday, and -19.16 Bcf/d to the 7D average. US power burns are expected to be 26 Bcf today, and US ResComm usage is expected to be 25.5 Bcf.
Net LNG deliveries are expected to be 12.2 Bcf today. LNG volumes are off today with Corpus Christie once again dropping.
Mexican exports are expected to be 6.1 Bcf today, and net Canadian imports are expected to be 4.8 Bcf today.
The storage outlook for the upcoming report is -74 Bcf today.
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ION-Energy-Daily-Report-Mar-15-2022.pdf