Daily Market Report – Oct 11, 2022

Today’s Fundamentals

Daily US natural gas production is estimated to be  100.7 Bcf/d this morning. Today’s estimated production is -1.74 Bcf/d to yesterday, and -1.47 Bcf/d to the 7D average. The big drop in production today comes from multiple regions. South Central showed the largest drop today with early nominations suggesting at 1.5 Bcf/d drop out of the region.

Natural gas consumption is modelled to be 72.3 Bcf today,  -2.67 Bcf/d to yesterday, and -2.65 Bcf/d to the 7D average. US power burns are expected to be 31.4 Bcf today, and US ResComm usage is expected to be 11.4 Bcf. Power burns are staying somewhat higher the last week with low wind levels across the country. As seen, wind across the country is sitting well below normal levels.

Net LNG deliveries are expected to be 10.6 Bcf today. Sabine Pass deliveries are once again lower this week, after seeing some recovering over the weekend.

Mexican exports are expected to be 6.2 Bcf today, and net Canadian imports are expected to be 5.5 Bcf today.

For week ending Oct 7^th, the S/D storage is pointing to a +132 Bcf, while our flow model is at +130 Bcf injection.  Last year we injected +86 Bcf during the same week.

This is the results of our flow model estimate:

Below is the storage activity at the facilities that report at the weekly level:

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