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Natural Gas End of Day Summary: Henry Hub Falls

NATGAS
Energy BulletsCommodities

Henry hub front month is weaker on the day, despite the slow recovery in LNG demand, with lacklustre appetite for natgas and warmer temperatures adding pressure

  • US Natgas JUN 24 down 2% at 1.99$/mmbtu
  • US Natgas NOV 24 down 1% at 2.98$/mmbtu
  • Feedgas to US LNG export terminals are similar to yesterday at 12.83bcf/d according to Bloomberg with Freeport LNG flows up to 1.02bcf/d.
  • US domestic natural gas production was yesterday up to 99.3bcf/d today according to Bloomberg after dipping down below 98bcf/d over the weekend.
  • The Freeport LNG plant in Texas is steadily increasing production after prolonged maintenance since late January after a deep freeze had impacted one of the trains.
  • Natural gas supplying a Freeport LNG storage facility has reduced Apr. 30, according to Bloomberg citing a Gulf South pipeline notice from operator Boardwalk.
  • Natural gas demand is today near normal at 63.9bcf/d and compared to an average 65.0bcf/d over the previous week.
  • The US forecast shows above normal temperatures still holding in central and eastern areas with the largest anomalies in the Gulf Coast region. Temperatures on the west coast are however near or just below normal.
  • Operators drilling for oil in Texas are rushing to dispose of excess natural gas amid a supply glut and weak prices, according to Reuters.
  • The G7 has called for a further reduction of Russian gas imports, according to Montel.
  • Russian gas production increased almost 10% (or 16 bcm) yoy in Q1 2024 supported by stronger domestic demand and higher exports: IEA analyst Greg Molnar.
  • LNG Imports into NWE in April increased slightly on the month in April, according to Bloomberg.
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Henry hub front month is weaker on the day, despite the slow recovery in LNG demand, with lacklustre appetite for natgas and warmer temperatures adding pressure

  • US Natgas JUN 24 down 2% at 1.99$/mmbtu
  • US Natgas NOV 24 down 1% at 2.98$/mmbtu
  • Feedgas to US LNG export terminals are similar to yesterday at 12.83bcf/d according to Bloomberg with Freeport LNG flows up to 1.02bcf/d.
  • US domestic natural gas production was yesterday up to 99.3bcf/d today according to Bloomberg after dipping down below 98bcf/d over the weekend.
  • The Freeport LNG plant in Texas is steadily increasing production after prolonged maintenance since late January after a deep freeze had impacted one of the trains.
  • Natural gas supplying a Freeport LNG storage facility has reduced Apr. 30, according to Bloomberg citing a Gulf South pipeline notice from operator Boardwalk.
  • Natural gas demand is today near normal at 63.9bcf/d and compared to an average 65.0bcf/d over the previous week.
  • The US forecast shows above normal temperatures still holding in central and eastern areas with the largest anomalies in the Gulf Coast region. Temperatures on the west coast are however near or just below normal.
  • Operators drilling for oil in Texas are rushing to dispose of excess natural gas amid a supply glut and weak prices, according to Reuters.
  • The G7 has called for a further reduction of Russian gas imports, according to Montel.
  • Russian gas production increased almost 10% (or 16 bcm) yoy in Q1 2024 supported by stronger domestic demand and higher exports: IEA analyst Greg Molnar.
  • LNG Imports into NWE in April increased slightly on the month in April, according to Bloomberg.