Natural Gas End of Day Summary: Henry Hub Lowest Since Aug. 5

Henry Hub is heading for its lowest close since Aug. 5 amid cooling temperatures across large parts of the continental USA.

• US Natgas SEP 24 down 2.4% at 1.97$/mmbtu
• US Natgas FEB 25 up 0.5% at 3.28$/mmbtu
• Temperatures forecasts for 6-14 days ahead are showing colder temperatures, with much of the East Coast and Mid-West either near normal or below normal. There are above normal pockets in the Pacific region.
• US domestic natural gas production was higher yesterday at 102.2bcf/d, according to Bloomberg.
• US LNG export terminal feedgas flows are stable at 12.98 bcf/d today, according to Bloomberg.
• The future of Russian gas flows via Ukraine remains a key uncertainty for European gas prices, Total CEO Patrick Pouyanne said.
• A sanctioned LNG tanker appears to be transferring its Russian cargo via STS in the Med, Bloomberg said.
• Asian LNG prices fell for the first time in four weeks last week, according to Reuters, amid signs of peaking seasonal demand.
• Asian LNG freight is likely to move up in the next few months due to winter demand and tying in some ships for term deliveries, Platts said.
• Qatar will sign a new 15-year deal to provide 2m mtpa of LNG to Kuwait starting 2025, Bloomberg said.
• Europe is the destination for a larger share of WAF exports in August, despite an open arbitrage to Asia, Platts said.
• Nigeria’s NNPC has begun exporting LNG cargoes to Japan and China, according to Bloomberg.
• Argentina’s Enarsa is looking to buy two cargoes for September and October delivery via tender, according to Bloomberg.
• Brazil’s Federal government adopted a decree Aug. 26 to increase natural gas deliveries to the market, hoping to reduce its prices, Argus said.