Yesterday the EIA reported an injection of 83 Bcf which came in above analyst estimates.
Today’s Fundamentals
Daily US natural gas production is estimated to be 89.7 Bcf/d this morning. Today’s estimated production is -1.22 Bcf/d to yesterday, and -2.07 Bcf/d to the 7D average. BSEE shows only 0.878 Bcf/d of GoM now shut-in, which was the same as the day prior. The climb has been slow, but we are now only 40% shut-in from virtually 100% gone during Hurricane Ida. The last bit might take until the end of the month to come back.
Natural gas consumption is modelled to be 69.3 Bcf today, -0.97 Bcf/d to yesterday, and -1.33 Bcf/d to the 7D average. US power burns are expected to be 34.1 Bcf today, and US ResComm usage is expected to be 7.2 Bcf. Gulf coast industrial usage is expected to be lower this week after Hurricane Nicholas ripped through the energy corridor in Texas, but going into the week it appears that most sites now have power. Centerpoint Systemwide Reliability Performance shows 99.18% of customers have power as of 7:10 AM (http://gis.centerpointenergy.com/outagetracker/?_ga=2.245290369.581036013.1631880713-133326819.1631880713#sthash.ndELlTMa.dpuf)
Net LNG deliveries are expected to be 9.8 Bcf today. Freeport feedgas nominations are showing 0.7 Bcf/d to be delivered today after Hurricane Nicholas knocked out power to all three trains. Centerpoint had been working to restore power to the locations around the facility yesterday, but neither the utility nor Freeport have confirmed they are back up today. Corpus Christie also had lower feedgas levels due to short-term maintenance, but today the feedgas levels show it back up.
Mexican exports are expected to be 6.8 Bcf today, and net Canadian imports are expected to be 4.7 Bcf today.
The storage outlook for the upcoming report is +75 Bcf today.
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ION-Energy-Daily-Report-Sep-17-2021.pdf