Daily Market Report – Oct 25, 2022

Today’s Fundamentals

Daily US natural gas production is estimated to be  100.1 Bcf/d this morning. Today’s estimated production is -1.51 Bcf/d to yesterday, and -0.82 Bcf/d to the 7D average. The early nomination shows the big move in production coming primarily from the SC region.

Natural gas consumption is modelled to be 74.3 Bcf today,  +1.06 Bcf/d to yesterday, and -1.47 Bcf/d to the 7D average. US power burns are expected to be 31.3 Bcf today, and US ResComm usage is expected to be 14.1 Bcf.

Net LNG deliveries are expected to be 11.7 Bcf today. Sabine Pass is one again expected to receive over 5 Bcf/d of feedgas today, but still no sign of Cove Point returning to service. This might be one of the longest maintenance periods the facility has held.

Mexican exports are expected to be 6.2 Bcf today, and net Canadian imports are expected to be 5 Bcf today. Canadian imports dropped with GTN (-0.28 Bcf/d DoD), Northern Borders (-0.05 Bcf/d DoD), and Alliance (-0.13 Bcf/d DoD) all receiving less from West Can today.

For week ending Oct 21^st, the S/D storage is pointing to a +57 Bcf, while our flow model is at +58 Bcf injection.  Last year we injected +88 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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