Today’s Fundamentals
Daily US natural gas production is estimated to be 96.3 Bcf/d this morning. Today’s estimated production is +0.37 Bcf/d to yesterday, and +0.46 Bcf/d to the 7D average. Bakken production was stable at 2.0 Bcf/d over the weekend after the cool weather/heavy snow/flooding over the region impacted production sites and pipeline infrastructure late April. Typical production levels in the region range from 2.3-2.4 Bcf/d; hence there are still some lasting issues. Overall, dry production levels are climbing as regions such as the Northeast once again climb over 34 Bcf/d.
Natural gas consumption is modelled to be 70.9 Bcf today, -1.87 Bcf/d to yesterday, and -2.51 Bcf/d to the 7D average. US power burns are expected to be 25.8 Bcf today, and US ResComm usage is expected to be 15.1 Bcf.
Net LNG deliveries are expected to be 12.4 Bcf today. Cameron T1 maintenance continues this week, but the remain major facilities look to be operating around the ~90% capacity utilization market.
Mexican exports are expected to be 7.1 Bcf today, and net Canadian imports are expected to be 5 Bcf today. Mexican exports are slowly rising as the summer kicks off. In May so far, Mexican exports are tracking on average +0.34 Bcf/d higher YoY.
The storage outlook for the upcoming report is +84 Bcf today.
This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.
ION-Energy-Daily-Report-May-09-2022.pdf