Today’s Fundamentals
Daily US natural gas production is estimated to be 95.4 Bcf/d this morning. Today’s estimated production is -1.58 Bcf/d to yesterday, and -0.74 Bcf/d to the 7D average. The drop come from a combination of lower output from the SC and NE. This could be a blip in the data as its quite a large DoD move.
Natural gas consumption is modelled to be 72.5 Bcf today, -0.32 Bcf/d to yesterday, and -6.17 Bcf/d to the 7D average. US power burns are expected to be 28.6 Bcf today, and US ResComm usage is expected to be 16.3 Bcf. Nuke generation continues to fall with total utilization at 71-72% at the moment.
Net LNG deliveries are expected to be 12.6 Bcf today. Sabine nomination bounced back today. Yesterday’s lower volumes at the plant were related to maintenance on the Creole Pipeline. It was expected to last into today; hence we could see a lower restatement in later nomination cycles.
Mexican exports are expected to be 6 Bcf today, and net Canadian imports are expected to be 5.2 Bcf today.
The storage outlook for the upcoming report is +23 Bcf today. Our flow model is suggesting a higher injection of +27 Bcf, hence we believe there is a risk to a stronger draw this week.
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ION-Energy-Daily-Report-Apr-13-2022.pdf