Today’s Fundamentals
Daily US natural gas production is estimated to be 95.3 Bcf/d this morning. Today’s estimated production is -0.87 Bcf/d to yesterday, and -0.53 Bcf/d to the 7D average. The day-on-day loss was mainly out of the Northeast and Rockies region.
Natural gas consumption is modelled to be 69.5 Bcf today, -0.64 Bcf/d to yesterday, and -2.69 Bcf/d to the 7D average. US power burns are expected to be 27 Bcf today, and US ResComm usage is expected to be 13.3 Bcf.
Net LNG deliveries are expected to be 12.6 Bcf today. Calcasieu Pass is nominated to received 1.2 Bcf/d today, which is an all time high. Sabine Pass is operating at 4.55 Bcf/d, which typically drops when temps warm up. With the latest heatwave in the South, we expect these levels to remain low for the next few days.
Mexican exports are expected to be 6.9 Bcf today, and net Canadian imports are expected to be 5.1 Bcf today.
For week ending May 6th, our S/D storage model is pointing to a +82 Bcf injection while our flow model points to a slightly lower injection of +80 Bcf. Below is the regional break down of the flow based model + the week storage activity at the 4 facilities that report on a weekly basis.
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ION-Energy-Daily-Report-May-10-2022.pdf