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Expected Freeport Delay Offsets Cold Weather

NATGAS

US Natgas bouncing between about 5.8$/mmbtu and 6.4$/mmbtu with a potential delay to the return of Freeport LNG offsetting below normal temperatures across the US.

    • US Natgas DEC 22 up 0.7% at 5.98$/mmbtu
  • Freeport LNG has not yet submitted a restart request to the regulator and Freeport LNG has told buyers it will likely cancel shipments for November and December. Deliveries to LNG export terminals are today unchanged from yesterday at 12.1bcf/d.
  • The current weather forecast shows below normal temperatures to continue across the US for the next 10 days before shifting back towards normal in the 8-14 day forecast period. Below normal temperatures are expected to continue on the East coast. Domestic demand is today estimated at 89.2bcf/d.
  • US dry gas production has edged higher in recent days with yesterday estimated up to 101.7bcf/d while exports to Mexico are holding steady around 6.6bcf/d.
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