NATGAS: Natural Gas End of Day Summary: Henry Hub Lowest Since Aug. 7

Henry Hub is headed for the lowest close since Aug. 7, after a slightly above-expectation build in US natural gas storage levels. 

• US Natgas SEP 24 down 5.8% at 2.05$/mmbtu
• US Natgas FEB 25 down 1.9% at 3.29$/mmbtu
• The EIA weekly gas inventories for the week ending Aug. 16 showed a draw of 35 bcf compared to the Bloomberg survey of +26 bcf and the seasonal normal of +41 bcf.
• Total stocks are now at 3,299 bcf compared to the previous five-year average of 2,930 bcf. 
• Domestic natural gas demand has fallen to its lowest since June 17 at 70.28 bcf/d today, Bloomberg said.
• Temperatures forecasts for 6-14 days ahead remain above normal on the East Coast and Mid-West. There are below normal pockets in the Rocky Mountain region.
• US domestic natural gas production was yesterday largely stable at 101.5bcf/d, Bloomberg said.
• US LNG export terminal feedgas flows are up to at 12.99 bcf/d today, Bloomberg said.
• Texas’ Waha gas hub went negative again Aug. 21, marking 26 days of consecutively negative pricing, Platts said.
• Japan’s LNG inventory for power stood at 1.92m tonnes by the end of 3rd week in August according to ICIS.
• Russia’s Novatek has postponed the start of operations at the third line of the Arctic LNG 2 project to 2028 from 2026 according to Russian news outlet RBC.
• One of the two trains at the Ichthys LNG plant in Darwin, Australia, has been shut since Aug. 20.
• The LNG tanker Qogir, with a cargo from Norway, is waiting outside the new US Plaquemines liquefaction plant owned by Venture Global.
• Angola’s LNG Production rose to 4.17m boe/d, the highest since Aug. 2023, Bloomberg said.