Daily Market Report – Sept 21, 2021

Today’s Fundamentals

Daily US natural gas production is estimated to be  91.4 Bcf/d this morning. Today’s estimated production is -1.61 Bcf/d to yesterday, and -0.84 Bcf/d to the 7D average. GoM production is slowing coming back at Entergy continues restore power in the Southern LA. As of yesterday, the BSEE reports only 0.6 Bcf/d of GoM offshore production shut-in. The drop in today’s production was the result of lower volumes getting onto to Transco due to maintenance at meters in East TX.

Natural gas consumption is modelled to be 0 Bcf today,  -68.95 Bcf/d to yesterday, and -70.51 Bcf/d to the 7D average. US power burns are expected to be 0 Bcf today, and US ResComm usage is expected to be 0 Bcf.

Net LNG deliveries are expected to be 9.6 Bcf today. Freeport LNG is back to normal operating levels as of today, but we saw a bit drop in flows to Cameron. The Cameron Interstate Pipeline started maintenance yesterday until Setp 30^th at the Holbrook Compressor Station. We should expect lower flows into Cameron over that time frame. Lastly, Cove Point started annual maintenance yesterday with feedgas levels dropping to 0. This maintenance typically lasts 26 days each years.

Mexican exports are expected to be 6.9 Bcf today, and net Canadian imports are expected to be 5 Bcf today.

The storage outlook for the upcoming report is +74 Bcf today.

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