Today’s Fundamentals
Daily US natural gas production is estimated to be 94.7 Bcf/d this morning. Today’s estimated production is -1.49 Bcf/d to yesterday, and -0.91 Bcf/d to the 7D average. Production cant catch a break. Today’s drop comes from the Northeast and SC. The drop in the Marcellus/Utica could be restated higher later today, but the drop in the SC looks to be related to maintenance beginning on PHP.
Natural gas consumption is modelled to be 72.7 Bcf today, +0.22 Bcf/d to yesterday, and -0.32 Bcf/d to the 7D average. US power burns are expected to be 30.5 Bcf today, and US ResComm usage is expected to be 15.6 Bcf.
Net LNG deliveries are expected to be 12.3 Bcf today. Freeport noms were restated higher yesterday and it appear that T1 is back on as of yesterday.
Mexican exports are expected to be 6.9 Bcf today, and net Canadian imports are expected to be 6.1 Bcf today.
The storage outlook for the upcoming report is +72 Bcf today.
This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.
ION-Energy-Daily-Report-May-03-2022.pdf