Natural Gas End of Day Summary: Henry Hub Slides

Henry Hub has slipped during US hours, moderating some of yesterday’s strong gains. Curtailed LNG flows and a recovery in production levels have offset support from higher cooling demand.

• US Natgas JUL 24 down 1.9% at 2.76$/mmbtu
• US Natgas DEC 24 down 1.3% at 3.74$/mmbtu
• US domestic natural gas production has edged higher again up to 101.9bcf/d and the highest since late March according to Bloomberg. Output reached a low of 97.75bcf/d on April 23.
• US LNG export terminal feedgas flows are today down at 11.95bcf/d, according to Bloomberg. Flows to Corpus Christi have dropped 0.75bcf/d since yesterday while Sabine Pass LNG supplies also remain below normal.
• Domestic natural gas demand is unchanged on the day and still well above normal at 76.5bcf/d according to Bloomberg.
• The LNG vessel Kool Baltic appears to have loaded a cargo from Australia’s Wheatstone plant on June 22 according to ICIS.
• The total estimated quantity of LNG on tankers that have not unloaded for at least 20 days rose again by 8.1% last week to the highest since November to 4.98m mt.
• Russia will face challenges to find alternatives for transhipping LNG once the EU ban comes into force but immediate impacts on exports may prove negligible: Montel
• LNG imports across North Asia are forecast to jump 24% from last year to hit 242m mt by 2030, according to BNEF.
• The LNG tanker Asya Energy has become the first LNG tanker crossing of the full Red Sea since January: ICIS.
• European LNG-TTF spreads have trended closer to flat as the market shies away from supplying cargoes to Europe, Platts said.
• Cheniere on track to take FID on midscale trains 8 and 9 at Corpus Christi LNG in Texas in 2025, according to LNG Prime.