US LNG facilities are back above the 7 Bcf/d of feedgas levels. This comes with Freeport taking record volumes. The current nameplate capacity of the 3 trains at Freeport is 1.8 Bcf/d, but the company has submitted an application to increase that with the FERC. The new nameplate place capacity suggested is 2.14 Bcf/d – more along the levels we’ve been seeing out of that facility. This goes to show that most US LNG facilities can run well past their nameplate capacity.
Cameron is slowly ramping up. Today’s nominations show it taking 0.124 Bcf/d. Lastly, Cove Point is still out for it’s annual maintenance. The expectation is that it will resume around Oct 10th.
Putting all this together shows that LNG should reach 9 Bcf/d sometime late next week once Cameron and Cove Point are operational.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 85.7 Bcf/d this morning. Today’s estimated production is -0.8 Bcf/d to yesterday, and +0.09 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 71.5 Bcf today, +3.28 Bcf/d to yesterday, and +5.19 Bcf/d to the 7D average. US power burns are expected to be 31.74 Bcf today, and US ResComm usage is expected to be 12.5 Bcf.
Net LNG deliveries are expected to be 7 Bcf today.
Mexican exports are expected to be 6.3 Bcf today, and net Canadian imports are expected to be 3.7 Bcf today.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-Oct-1-2020.pdf