Weather runs showed some cooler temps across the board. This change had already showed up in yesterday’s 12z run; hence today’s 00z simply confirms the cooler weather. The GFS Ensemble gained 20 GWHDDs over the next 15 days, while the Euro Ensemble gained 11 GWHDDs.
While March weather is not as crucial as Dec-Jan-Feb, it still does matter if it is strong to one side or the other. This morning prices reacted higher.
Total LNG feedgas volumes are inching back to 11 Bcf/d with Sabine operating at full capacity today. Cameron is still operating at 2/3 its capacity. The
Today’s Fundamentals:
Daily US natural gas production is estimated to be 90.1 Bcf/d this morning. Today’s estimated production is -1.45 Bcf/d to yesterday, and -2.21 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 0 Bcf today, -97.44 Bcf/d to yesterday, and -89.48 Bcf/d to the 7D average. US power burns are expected to be 04 Bcf today, and US ResComm usage is expected to be 0 Bcf.
Net LNG deliveries are expected to be 10.7 Bcf today.
Mexican exports are expected to be 6.5 Bcf today, and net Canadian imports are expected to be 5.2 Bcf today.
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ION-Energy-Daily-Report-Mar-03-2021.pdf