Natural Gas End of Day Summary: Henry Hub

Henry Hub has gained ground to return to levels last seen early April 15, supported by returning LNG feedgas flows and a slightly below expectation US storage injections.

• US Natgas MAY 24 up 2.3% at 1.75$/mmbtu
• US Natgas OCT 24 up 0.7% at 2.53$/mmbtu
• The EIA weekly gas inventories for the week ending Apr. 12 showed an injection of 50bcf compared to the expectation for an injection of 52bcf according to a Bloomberg survey and the seasonal normal injection of 51bcf.
• US storage inventories continue to hold a strong surplus with total stocks at 2,333bcf compared to the previous five-year average of 1,711bcf.
• Feedgas flow to US LNG export terminals are estimated up slightly on the day to 10.82bcf/d.
• US domestic natural gas production was up slightly on the day to 98.8bcf/d yesterday according to Bloomberg compared to a month to date average of 100.3bcf/d.
• Natural gas demand edged back above normal to 69.5bcf/d today according to Bloomberg estimates.
• Wires reporting that a US Energy Department official estimates that the Department's review of LNG exports, "including public comment period, will be finished by end of first quarter in 2025."
• Demand for natural gas is expected to increase substantially until 2030 according to Kinder Morgan at the release of Q1 financial results.
• Asian LNG prices could further extend the rally due to higher power demand in summer and concerns over extended supply disruptions, JLC said in a note.
• China imports of LNG in March rose 25.1% from the previous year to 6.65m tons according to customs data.
• Summer LNG sendout to Europe is set fall slightly from current rates according to the ICIS Euro Gas Foresight model.