Today’s Fundamentals
Daily US natural gas production is estimated to be 89.1 Bcf/d this morning. Today’s estimated production is -2.32 Bcf/d to yesterday, and -2.06 Bcf/d to the 7D average. This will most likely be revised higher in later pipeline nomination revisions to 91-91.5 Bcf/d. Offshore production grew slightly yesterday according to the BSEE. Total volumes shut-in now stand at 1.736 Bcf/d.
Natural gas consumption is modelled to be 69.9 Bcf today, +0.57 Bcf/d to yesterday, and +3.21 Bcf/d to the 7D average. US power burns are expected to be 35.3 Bcf today, and US ResComm usage is expected to be 7.4 Bcf.
Net LNG deliveries are expected to be 11.1 Bcf today. LNG feed gas nominations made a significant move higher last night, adding +0.38 Bcf/d with Sabine Pass LNG and Cameron revising their flows. Total feedgas levels have been above 11 Bcf/d for most of the past 7 days.
Mexican exports are expected to be 6.9 Bcf today, and net Canadian imports are expected to be 4.7 Bcf today.
The storage outlook for the upcoming report is +48 Bcf today.
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ION-Energy-Daily-Report-Sep-08-2021.pdf