Natural Gas End of Day Summary: Henry Hub Set for Gains

Henry Hub continues trading higher today as the market assess the slow return of Freeport LNG following the halt due to hurricane Beryl.

• TTF AUG 24 up 4.5% at 32.8€/MWh
• US LNG export terminal feedgas flows are today down to 10.68bcf/d according to Bloomberg.
• Freeport expects to restart its first LNG train this week followed by trains 2 & 3 shortly after although at reduced rates as repairs continue.
• US domestic natural gas production was at 102.6bcf/d yesterday.
• Domestic natural gas demand is relatively unchanged on the day at 81.6bcf/d today.
• US demand for power hit a preliminary hourly record high July 15, Reuters said
• US natural gas storage is on track to end the April-October summer injection season at an eight-year high, Reuters said.
• Energy Transfer's 16.5m mtpa Lake Charles and Commonwealth LNG's 9.5m mtpa project are pushing the DOE to act promptly on their pending LNG export permits.
• Russian natural gas pipeline flows to the EU jumped by 24% in the H1 2024 vs H1 2023.
• Russia's Arctic LNG 2 project cut natural gas output in May to around 55mcm from 215mcm in April, Reuters said.
• Gas demand returned to growth and rose 3% yoy in H1 2024, supported by the fast-growing Asian markets and industry, the IEA Q3 Gas Market Report said.
• Calamari LNG, Colombia’s sole LNG importer, has awarded its most recent tender to Gunvor, Platts said.
• A US Court of Appeals said the Federal Energy Regulatory Commission did not adequately assess the impact of greenhouse gas and other emissions from Commonwealth LNG’s Louisiana LNG project.
• Despite higher production, gas benchmarks have likely reached their low points and will find support, with the storage surplus expected to continue shrinking, Bloomberg Intelligence said.