Today LNG feedgas deliveries once again dropped after seeing 12 Bcf/d over the weekend. Nomination data shows 11.3 Bcf/d today with Freeport dropping once again to 1.35 Bcf ( it was 2.15 Bcf/d over the weekend). That being said, Sabine is showing very strong feedgas levels as train 6 looks to be coming on.

Global LNG spreads are still very wide with JKM still holding a premium over European destinations.

Today’s Fundamentals

Daily US natural gas production is estimated to be  97.6 Bcf/d this morning. Today’s estimated production is +0.47 Bcf/d to yesterday, and +1.27 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 98.6 Bcf today,  +1.81 Bcf/d to yesterday, and +7.23 Bcf/d to the 7D average. US power burns are expected to be 27.5 Bcf today, and US ResComm usage is expected to be 36.2 Bcf.

Net LNG deliveries are expected to be 11.3 Bcf today.

Mexican exports are expected to be 6.1 Bcf today, and net Canadian imports are expected to be 5.9 Bcf today.

The storage outlook for the upcoming report is -30 Bcf today.

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