LNG feedgas rose above 9 Bcf/d yesterday with Sabine Pass increasing its intake. Yesterday, Sabine received 4.155 Bcf/d which is close to the peak of 4.29 Bcf/d it received on Nov 2nd 2019. There is no news out of Sabine, which had flows restricted due to a fire at Train 1. Current intake levels assumes that operations are back to normal at the facility.
It appears that we could soon hit 10 Bcf/d if Cameron and Freeport lower took in their usual amounts.
On the production side, the Primary Vision Frac Spread Count is up to 134 for the week ending October 23rd, 2020. This covers both oil and gas jobs.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 88.2 Bcf/d this morning. Today’s estimated production is -0.43 Bcf/d to yesterday, and -0.82 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 85 Bcf today, +4.2 Bcf/d to yesterday, and +10.39 Bcf/d to the 7D average. US power burns are expected to be 29.14 Bcf today, and US ResComm usage is expected to be 26.1 Bcf.
Net LNG deliveries are expected to be 9.2 Bcf today.
Mexican exports are expected to be 5.9 Bcf today, and net Canadian imports are expected to be 4.3 Bcf today.
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ION-Energy-Daily-Report-Oct-26-2020.pdf