January 27, 2025 19:22 GMT
NATGAS: Natural Gas End of Day Summary: Henry Hub Plunges
NATGAS
Henry Hub is trading down today as indications for warmer weather spark a sell off.
- US Natgas FEB 25 down 8.4% at 3.69$/mmbtu
- US Natgas MAR 25 down 5.8% at 3.25$/mmbtu
- Lower 48 natural gas demand is down at 110.8bcf/d today, according to Bloomberg from a peak of 141.5bcf/d on Jan. 21.
- The NOAA 8–14-day forecast shows above normal temperatures focused on the East Coast and Gulf Coast but with below normal in the West Coast and Rocky Mountain regions.
- US heating demand for the week ending Feb.1 is forecast to be 34 heating degree days (HDD) below the long-term normal, according to Bloomberg, citing the NOAA.
- US domestic natural gas production is estimated relatively unchanged on the day at 104.0bcf/d today, according to Bloomberg.
- US LNG export terminal feedgas has rebounded to 14.46bcf/d today, according to Bloomberg.
- Freeport LNG resumes shipments after the recent power outage while feedgas is back up to around 2bcf/d.
- Norway’s Hammerfest LNG export facility, operated by Equinor, loads first cargo since Jan 1: ICIS.
- The LNG price spread between Asia and Europe hit the lowest as Europe sought to replace Russian piped gas.
- JKM, will likely see a slowdown in trading activities this week amid the Lunar New Year holiday, Platts said.
- Nigeria's NNPC will start constructing five new mini-LNG plants Jan. 30, part of an effort to boost domestic gas supply, Platts said.
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