Today’s Fundamentals
Daily US natural gas production is estimated to be 90.8 Bcf/d this morning. Today’s estimated production is -1.71 Bcf/d to yesterday, and -1.45 Bcf/d to the 7D average. The drop comes from the Northeast and South Central where maintenance along pipeline segments looks to be the reason for the drop. The drop was unexpected and quite significant day-on-day; hence we expect a revision in later nomination cycles.
Natural gas consumption is modelled to be 67.7 Bcf today, -2.78 Bcf/d to yesterday, and -1.31 Bcf/d to the 7D average. US power burns are expected to be 28.3 Bcf today, and US ResComm usage is expected to be 14.1 Bcf.
Net LNG deliveries are expected to be 10.7 Bcf today. Sabine Pass still continues to show lower feedgas levels with no real maintenance reported at the facility or upstream of the facility.
Mexican exports are expected to be 6.4 Bcf today, and net Canadian imports are expected to be 5.2 Bcf today.
The storage outlook for the upcoming report is +89 Bcf today.
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ION-Energy-Daily-Report-Oct-19-2021.pdf