LNG Feedgas flows have been strong. Today’s nomination data estimates levels at 11.8 Bcf/d and the month-to-date levels average 11.1 Bcf/d
Cheniere announced yesterday that Substantial Completion of Train 3 at the Corpus Christi liquefaction project was achieved on March 26, 2021. Commissioning is complete and Cheniere’s EPC partner Bechtel has turned over care, custody, and control of Train 3 to Cheniere. Train 3 has been operating at full levels for sometime already, but this market the official commercial status of this train.
Also to note the next LNG project to come online. Venture Global LNG’s Calcasieu Pass export terminal in Louisiana could ship its first cargo in late 2021, a year ahead of schedule. Startup was originally expected in fall 2022. The 23.4-mile TransCameron pipeline that would bring feedgas to the terminal from interstate pipelines is expected to begin service very soon; hence we could see testing of the facilit in early Q3. The total project size is 10 million mt/year.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 92.1 Bcf/d this morning. Today’s estimated production is -0.93 Bcf/d to yesterday, and -0.5 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 75.8 Bcf today, +2.45 Bcf/d to yesterday, and +2.4 Bcf/d to the 7D average. US power burns are expected to be 25.74 Bcf today, and US ResComm usage is expected to be 21.5 Bcf.
Net LNG deliveries are expected to be 11.8 Bcf today.
Mexican exports are expected to be 6.6 Bcf today, and net Canadian imports are expected to be 4.7 Bcf today.
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ION-Energy-Daily-Report-Mar-31-2021.pdf