Today’s Fundamentals
Daily US natural gas production is estimated to be 96.8 Bcf/d this morning. Today’s estimated production is -0.34 Bcf/d to yesterday, and +0.42 Bcf/d to the 7D average. The DoD drop comes mainly from the Northeast region. That being said, production has been slowly creeping higher since the end of winter. Over the last 30 days, we have observed L48 production climb by 1.5 Bcf/d.
Natural gas consumption is modelled to be 83.4 Bcf today, -2.74 Bcf/d to yesterday, and +5.68 Bcf/d to the 7D average. US power burns are expected to be 27 Bcf today, and US ResComm usage is expected to be 26.7 Bcf.
Net LNG deliveries are expected to be 12.8 Bcf today. Freeport deliveries dropped to 0.4 Bcf/d yesterday due to some electrical issues at the plant. Today’s nomination for the plant are back to roughly 65% of normal capacity.
Mexican exports are expected to be 6.6 Bcf today, and net Canadian imports are expected to be 5.8 Bcf today.
For week ending Apr 15th, our S/D storage model is pointing to a +46 Bcf injection while our flow model points to a slightly higher draw of +53 Bcf. Below is the regional break down of the flow based model + the week storage activity at the 4 facilities that report on a weekly basis.
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ION-Energy-Daily-Report-Apr-19-2022.pdf