This week’s storage report will be published at 10:30am EST. Our expectations is a -4 Bcf withdrawal.
LNG feedgas levels look to hit another record this morning. The total nominated flows are expected to be 10.78 Bcf/d. The average in November so far has been 10.36, with all but one day posting above 10 Bcf/d. The coincidental peak of all the facilities is 11.5 Bcf/d; hence its possible to see higher feedgas flows this winter.
The latest 00z forecast showed more cooler temps in the back end of the 15D forecast. Both Euro Ensemble and GEFS Ensemble confirmed those changes.
This cooling trend is likely to be a temporary phenomenon. Most December forecast continue to show warm temps. Below is the current monthly CFS outlook.
Today’s Fundamentals
Daily US natural gas production is estimated to be 90.4 Bcf/d this morning. Today’s estimated production is +0.13 Bcf/d to yesterday, and +1.36 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 84.2 Bcf today, -0.13 Bcf/d to yesterday, and +8.46 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 26.9 Bcf.
Net LNG deliveries are expected to be 10.8 Bcf today.
Mexican exports are expected to be 6.7 Bcf today, and net Canadian imports are expected to be 5.2 Bcf today.
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ION-Energy-Daily-Report-Nov-13-2020.pdf