Shell and Chevron are redeploying personnel to its offshore assets, but production remains shut in. Additionally, mobile drilling units were returning to drill sites to re-start operations. We do not see any recovery to daily production from the pipeline nomination today, but expect to see an increase throughout this week back to normal Gulf of Mexico levels.

LNG feedgas volumes are rising again. Sabine and Cameron are ramping back up while Cove Point returned from its annual maintenance. Today’s nomination data show’s LNG feedgas levels at 7.5 Bcf/d, and we expect that to reach 9.5-10 Bcf/d by the end of the week.

 

 

 

 

Today’s Fundamental’s

Daily US natural gas production is estimated to be  83.4 Bcf/d this morning. Today’s estimated production is -0.82 Bcf/d to yesterday, and -2.27 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 68.2 Bcf today,  +2.54 Bcf/d to yesterday, and +0.49 Bcf/d to the 7D average. US power burns are expected to be 30.94 Bcf today, and US ResComm usage is expected to be 10.2 Bcf.

Net LNG deliveries are expected to be 7.5 Bcf today.

Mexican exports are expected to be 6.1 Bcf today, and net Canadian imports are expected to be 3.9 Bcf today.                                                                                                                                                                                                 

 

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