Total LNG feedgas deliveries are climbing. Today’s nominations show 3.0 Bcf/d hitting all LNG terminals. The tick up yesterday is not due to big activity at Cameron or Sabine just yet, but more gas heading to Freeport. We did see a tiny amount nominated to Sabine, but this could be more related to testing the pipeline system or onsite power gen. 14 mmcf/d is suppose to arrive at Sabine today.
Yesterday afternoon, Cheniere noted that a comprehensive facility and operational assessment of the Sabine Pass Liquefaction facility and pipeline assets revealed no significant damage as a result of Hurricane Laura, with the facility performing as designed through the storm. Cheniere has started to execute on its plan to restart LNG production at Sabine Pass.
Additionally, Cheniere’s EPC contractor, Bechtel, is returning today to Sabine Pass to resume work constructing Train 6 and on the third berth project.
The company conducted initial assessments of impact from Hurricane Laura at the Sabine Pass facility by air, boat, and by technical and third-party experts.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 84 Bcf/d this morning. Today’s estimated production is -2.41 Bcf/d to yesterday, and -1.98 Bcf/d to the 7D average. The big drop today comes mainly from the Northeast, and is most likely related to first of the month nomination errors. We expect to see this resolved by late-week.
Natural gas consumption is modelled to be 72.1 Bcf today, +0.42 Bcf/d to yesterday, and -1.51 Bcf/d to the 7D average. US power burns are expected to be 36.74 Bcf today, and US ResComm usage is expected to be 7.7 Bcf.
Net LNG deliveries are expected to be 3 Bcf today.
Mexican exports are expected to be 6.5 Bcf today, and net Canadian imports are expected to be 4.4 Bcf today.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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