Today’s Fundamentals

Daily US natural gas production is estimated to be  100 Bcf/d this morning. Today’s estimated production is -0.75 Bcf/d to yesterday, and -0.97 Bcf/d to the 7D average. Scheduled maintenance on Kinder Morgan’s (KMI) Gulf Coast Express and El Paso gas pipelines, which carry gas away from the Permian Basin has restricted production from getting to market. With no real storage in West Texas, we saw Waha cash prices sink to levels not seen since 2020.  Production will remain under pressure through the end of the week until pipeline maintenance is completed.

Natural gas consumption is modelled to be 78.5 Bcf today,  +3.32 Bcf/d to yesterday, and +5.28 Bcf/d to the 7D average. US power burns are expected to be 30.9 Bcf today, and US ResComm usage is expected to be 17.9 Bcf.

Net LNG deliveries are expected to be 11.7 Bcf today.

Mexican exports are expected to be 6.2 Bcf today, and net Canadian imports are expected to be 5 Bcf today.

For week ending Oct 21st, the S/D storage is pointing to a +57 Bcf, while our flow model is at +58 Bcf injection.  Last year we injected +88 Bcf during the same week.

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