Today’s Fundamentals
Daily US natural gas production is estimated to be 91.2 Bcf/d this morning. Today’s estimated production is -1.39 Bcf/d to yesterday, and -0.76 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 67.2 Bcf today, +0.08 Bcf/d to yesterday, and +1.89 Bcf/d to the 7D average. US power burns are expected to be 30.44 Bcf today, and US ResComm usage is expected to be 8.7 Bcf.
Net LNG deliveries are expected to be 10.7 Bcf today. LNG feedgas flows have been volatile the past couple of weeks. Yesterday, Freeport showed a single day drop in feedgas flows. Today, Corpus Christie is off by 0.4 Bcf/d. We believe this drop to be tied to maintenance. Corpus Christi booked another 1.25 Bcf in Pine Prairie IT storage on Friday, which is typical of Cheniere during maintenance events. Corpus Christi usually take > 2.4 Bcf/d, but flows have been lower since May 14th.
Mexican exports are expected to be 6.9 Bcf today, and net Canadian imports are expected to be 4.4 Bcf today.
The storage outlook for the upcoming report is +111 Bcf today.
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ION-Energy-Daily-Report-May-25-2021.pdf