From: research
Sent: Monday, June 01, 2020 7:07:40 AM (UTC-06:00) Central Time (US & Canada)
To: research
Subject: Daily Market Report – June 1, 2020
With the start of June we are seeing gas deliveries to US LNG terminals dropping dramatically in today pipeline nomination data. Total deliveries are off by 2.0 Bcf/d versus Friday to reach a total of 4.1 Bcf/d. This is less than half of the peak we observed in late March 31st. We had been expecting a drop due to the rumored 20-25 cargo cancelation, but this level indicates a way deeper LNG pushback.
Sabine Pass is currently taking 1.4 Bcf/d vs its normal operational level of 4.3 Bcf/d.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 82.7 Bcf/d this morning. Today’s estimated production is -2.3 Bcf/d to yesterday, and -1.75 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 65.5 Bcf today, +0.96 Bcf compared to yesterday and +0.3 Bcf to the 7D average. US power burns are expected to be 30.9 Bcf today, and US ResComm usage is expected to be 9.2 Bcf.
Net LNG deliveries are expected to be 4.1 Bcf/d today.
Mexican exports are 5.5 Bcf/d. Net Canadian imports dropped to 3.9 Bcf/d.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-June-1-2020.pdf