LNG feed gas demand was able to post a strong recovery over this weekend with Freeport LNG partially wrapped up maintenance work. Total delivered volumes jumped to 11.32 Bcf/d today after hitting 11.62 Bcf/d yesterday. Sabine Pass has also been consistently receiving over 4 Bcf/d of feedgas since Nov 5th.
Weather since Friday’s 12z run has been mixed with not a large change. Both the Euro Ensemble and GFS Ensemble showed very minor daily changes across the next few weeks.
Today’s Fundamentals
Daily US natural gas production is estimated to be 95.9 Bcf/d this morning. Today’s estimated production is +0.32 Bcf/d to yesterday, and +0.64 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 81.4 Bcf today, +4.87 Bcf/d to yesterday, and -9.63 Bcf/d to the 7D average. US power burns are expected to be 26.5 Bcf today, and US ResComm usage is expected to be 24.1 Bcf.
Net LNG deliveries are expected to be 11.3 Bcf today.
Mexican exports are expected to be 6.1 Bcf today, and net Canadian imports are expected to be 5.5 Bcf today.
The storage outlook for the upcoming report is +9 Bcf today.
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ION-Energy-Daily-Report-Nov-08-2021b.pdf