October 23, 2024 12:04 GMT
NATGAS: Henry Hub Resumes Decline as LNG Feedgas Still Curtailed
NATGAS
Henry Hub is edging lower to resume the trend in place since early October as LNG terminal feedgas supplies are still curtailed and with a mixed US weather forecast into the start of November.
- Lower 48 natural gas demand has edged up to 70.3bcf/d today, according to Bloomberg. The NOAA 6-14 day forecast shows a continuation of above normal temperatures in central and eastern areas but below normal in the west throughout.
- US LNG export terminal feedgas supply is estimated up slightly to 12.1bcf/d today, BNEF shows, but well below a peak of nearly 14bcf/d on Oct. 17. Both Cameron LNG and Sabine Pass LNG feedgas nominations show volumes equivalent to about one train at each facility offline.
- US domestic natural gas production has dipped slightly to 102.1bcf/d yesterday, according to Bloomberg, compared to an average of 102.6bcf/d over the previous week.
- Export flows to Mexico are estimated at 6.9bcf/d today, according to Bloomberg.
- Nymex Henry Hub daily aggregate traded futures volume was 580k on Oct. 22.
- US Natgas NOV 24 down 1.8% at 2.27$/mmbtu
- US Natgas APR 25 down 1.1% at 2.73$/mmbtu
- US Natgas OCT 25 down 0.7% at 3.23$/mmbtu
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