US wind generation was very strong to start the week which will impact the level of gas burns. At this time of the year we typically see wind generation pick up once again. As seen in the chart below, we had very strong wind generation in Q2, followed by very low wind in Q3 (during the peak of summer). Wind has had a big influence on Q3 storage injection.
Source: analytix.ai
Today’s Fundamentals
Daily US natural gas production is estimated to be 91.2 Bcf/d this morning. Today’s estimated production is -1.47 Bcf/d to yesterday, and -1.28 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 0 Bcf today, -69.51 Bcf/d to yesterday, and -70.21 Bcf/d to the 7D average. US power burns are expected to be 0 Bcf today, and US ResComm usage is expected to be 0 Bcf.
Net LNG deliveries are expected to be 10.1 Bcf today. The lower volumes are due to Cove Point being out on maintenance and Cameron having one train offline with maintenance upstream. Cameron is expected to be out until the end of this week.
Mexican exports are expected to be 6.8 Bcf today, and net Canadian imports are expected to be 5.4 Bcf today.
The storage outlook for the upcoming report is +75 Bcf today.
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ION-Energy-Daily-Report-Sep-22-2021.pdf