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Henry Hub Softer Amid Freeport Uncertainty


Henry Hub front month is slightly softer today after gains seen over the previous week as uncertainty surround LNG export flows as Freeport continues efforts to restart some operations.

    • US Natgas MAY 24 down 0.6% at 1.8$/mmbtu
    • US Natgas OCT 24 up 1.1% at 2.65$/mmbtu
    • US Natgas APR 25 up 1.5% at 3.13$/mmbtu
  • Feedgas flow to US LNG export terminals are estimated at 12.4bcf/d today according to Bloomberg with Freeport feedgas of 0.43bcf/d. Freeport LNG terminal is showing a partial recovery in feedgas supplies since April 21 and exported a partial cargo as the first shipment since April 11 according to Bloomberg. Power draw to terminal however dropped by 92% between noon and 9pm April 23 local time, and is sitting near zero, according to Bloomberg citing Wood Mackenzie data.
  • US domestic natural gas production fell to 97.7bcf/d according to Bloomberg compared an average of 98.5bcf/d in the previous week.
  • Natural gas demand is slightly higher on the day but still near at 68.6bcf/d today according to Bloomberg. The latest NOAA 6-14 day outlook is relatively unchanged with warm weather for most of the except for the far west coast which is slightly below normal.
  • Export flows to Mexico are today at the highest since early March at 7.07bcf/d according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was at 401k on April 23.

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