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Lower LNG Export Flows Weigh on US Henry Hub Prices

NATGAS

US Henry Hub pulls back to the lowest since 11 Sep amid lower feedgas flows to US LNG export terminals and with slightly higher domestic production.

    • US Natgas OCT 23 down -2.5% at 2.57$/mmbtu
    • US Natgas MAR 24 down -1.8% at 3.2$/mmbtu
    • US Natgas SEP 24 down -1% at 3.25$/mmbtu
  • Flows to Sabine Pass LNG have decline further today down to 3.7bcf/d compared to around 4.5bcf/d last week while Corpus Christi flows are also down by 0.6bcf/d. The drop in flows adds to the month long Cove Point outage due to maintenance. Total natural gas delivery flows to US LNG export terminals are today estimated down at 10.9bcf/d.
  • US domestic natural gas production was yesterday up again slightly to 102.0cf/d and above the average from the previous week of 101.4bcf/d.
  • Domestic natural gas consumption has again increased slightly today up to 68.4bcf/d. The US weather forecast has turned warmer across central and eastern areas since yesterday but below normal is still expected in the west throughout the coming two weeks.
  • Export flows to Mexico are today estimated at 6.9bcf/d.

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