NATGAS: Natural Gas End of Day Summary: Henry Hub Extends Gains

Henry Hub front month has extended gains in US hours after updated weather forecasts indicate colder temperatures for the central and eastern continental US. At risk production from Hurricane Raphael is also likely supportive.

• US Natgas DEC 24 up 2.7% at 2.74$/mmbtu
• US Natgas MAY 25 up 1.9% at 2.75$/mmbtu
• Forecasts shifted a “decent bit colder” for much of the central and eastern parts of the US for Nov. 14-17, according to Maxar, cited by Bloomberg.
• Hurricane Raphael has intensified to a category 3 hurricane on a path that threatens to cross leases that produce 1.59 bcf/d of gas production.
• US natural gas change last week based on surveys: +67 (Bloomberg), +64 Bcf (WSJ), +62 (Reuters), +32 Bcf (five-year average).
• US domestic natural gas production was down to 99.4bcf/d yesterday, Bloomberg said.
• Lower 48 natural gas demand is 77.3bcf/d today, Bloomberg said.
• US LNG export terminal feedgas supply is 13.17bcf/d today, BNEF shows.
• Trump's election victory offers a boost to LNG project developers, who had faced a pause on new project approvals earlier this year, ICIS said.
• Federal regulators Nov. 6 gave Venture Global LNG permission to introduce natural gas into its Plaquemines export plant in Louisiana, moving the facility closer to producing LNG, Reuters said.
• Sempra infrastructure’s Port Arthur LNG phase 2 project development is running ahead of its Cameron LNG expansion in Louisiana, the company’s CFO Karen Sedgwick said Nov. 6, Reuters reported.
• LNG stockpiles held by Japanese utilities rose 2.42% w/w on Nov. 3 to 2.12m mt.
• Colombia's SPEC LNG terminal in Cartagena finished its planned maintenance as scheduled Nov. 4.
• MNI Gas Weekly: Milder Weather Tapers Winter Gas Price: See pdf here: https://roar-assets-auto.rbl.ms/files/68806/MNI%20Gas%20Weekly%20-%20Milder%20Weather%20Tapers%20Winter%20Gas%20Prices.pdf