Today’s Fundamentals
Daily US natural gas production is estimated to be 95.2 Bcf/d this morning. Today’s estimated production is -0.86 Bcf/d to yesterday, and -1.02 Bcf/d to the 7D average. Production has had a difficult time making any gains, and as a result price continues to move higher with no real other flex left in the gas markets. Today’s drop comes from the NE and SC.
Natural gas consumption is modelled to be 69.9 Bcf today, +2.05 Bcf/d to yesterday, and +1.54 Bcf/d to the 7D average. US power burns are expected to be 33.8 Bcf today, and US ResComm usage is expected to be 8.4 Bcf.
Net LNG deliveries are expected to be 12.8 Bcf today. Sabine operations continue to struggle, which is likely related to the intense heat.
Mexican exports are expected to be 6.6 Bcf today, and net Canadian imports are expected to be 5.5 Bcf today.
For week ending June 3rd, our S/D storage model is pointing to a +99 Bcf injection while our flow model is much lower with a +102 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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NatGas-Daily-Report-June-07-2022.pdf