Free Trial

Natural Gas End of Day Summary; Henry Hub Down 13.5% on Week


Henry Hub is set for losses of around 13.5% on the week but is ticking up day on day. This would be the first on the day rise since Feb. 2 amid lower production and higher LNG feedgas flows. Milder weather from El nino is suppressing demand, causing the current downward trajectory.

  • US Natgas MAR 24 up 0.9% at 1.6$/mmbtu
  • US Natgas AUG 24 up 1.4% at 2.27$/mmbtu
  • Domestic natural gas demand is slightly up on the day at 92.6 bcf/d according to Bloomberg and still below the previous five-year average of 93.4 bcf/d.
  • The 6–14-day period shows above normal temperatures in central areas. Temperatures are near normal in the West and slightly above normal on the east coast.
  • US lower 48 gas production is down to 103.7 bcf/d, the lowest level since Jan. 27 according to Bloomberg, but still well above levels seen this time last year of around 99.6 bcf/d.
  • Feedgas flows to US LNG export terminals are up slightly today at 13.7 bcf/d. Freeport flows remain subdued amid an LNG train outage.
  • Eni is expecting to export 8-10 LNG cargoes from Egypt in the months before the end of the winter heating season, COO, Guido Brusco, said.
  • Venture Global LNG has sought a one-year permit extension to complete construction of its Calcasieu Pass project in Louisiana.
  • Tellurian said the US FERC issued a three-year extension for the construction of Tellurian’s Driftwood LNG.
  • US energy regulators approved a cross-border pipeline capable of exporting 2.8 bcf/d of natural gas from Texas to Mexico Pacific’s Saguaro LNG export plant.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.