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NATGAS: Natural Gas End of Day Summary: Henry Hub Surges

NATGAS
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Henry Hub is set to close with a net gain on the week of nearly 19%. Cold weather on the US East Coast looks set to continue. Meanwhile, production has dipped and LNG export terminal feedgas flows rise to record levels.

  • US Natgas FEB 25 up 7.6% at 3.98$/mmbtu
  • US Natgas MAR 25 up 4.4% at 3.38$/mmbtu
  • Baker Hughes US Gas Rig Count: 100 (-3) – down 20 rigs, or 16.7% on the year
  • Lower 48 natural gas demand has dipped slightly to 114.2bcf/d today, according to Bloomberg but remain above previous five-year average levels of around 99.5bcf/d.
  • The NOAA 6–14-day outlook still showed below normal temperatures on the East Coast throughout although with levels closer to normal in more central and western regions.
  • US domestic natural gas production is estimated unchanged on the day at 101.7bcf/d today, according to Bloomberg,
  • US LNG export terminal feedgas is estimated at a record high of 15.1bcf/d today, according to Bloomberg,
  • Export flows to Mexico are holding steady at 6.50bcf/d today after recovering from a drop in late Dec.
  • Spark's Netbacks show that the US front month LNG arb to NE-Asia (via the Cape of Good Hope) is currently priced at -$0.610/MMBtu.
  • The European share of global LNG fell to 24% in 2024 from 30% in 2023, as Asia rebuilt its share, according to ICIS.
  • LNG transit through the Panama Canal saw a slight uptick in December, Platts said.
  • End-month open interest and traded volume for JKM LNG futures reached unprecedented levels in 2024, Platts said.
  • The first LNG cargo has arrived at Hindustan Petroleum’s 5 mtpa Chhara LNG terminal in Gujarat, India, according to Vortexa.
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Henry Hub is set to close with a net gain on the week of nearly 19%. Cold weather on the US East Coast looks set to continue. Meanwhile, production has dipped and LNG export terminal feedgas flows rise to record levels.

  • US Natgas FEB 25 up 7.6% at 3.98$/mmbtu
  • US Natgas MAR 25 up 4.4% at 3.38$/mmbtu
  • Baker Hughes US Gas Rig Count: 100 (-3) – down 20 rigs, or 16.7% on the year
  • Lower 48 natural gas demand has dipped slightly to 114.2bcf/d today, according to Bloomberg but remain above previous five-year average levels of around 99.5bcf/d.
  • The NOAA 6–14-day outlook still showed below normal temperatures on the East Coast throughout although with levels closer to normal in more central and western regions.
  • US domestic natural gas production is estimated unchanged on the day at 101.7bcf/d today, according to Bloomberg,
  • US LNG export terminal feedgas is estimated at a record high of 15.1bcf/d today, according to Bloomberg,
  • Export flows to Mexico are holding steady at 6.50bcf/d today after recovering from a drop in late Dec.
  • Spark's Netbacks show that the US front month LNG arb to NE-Asia (via the Cape of Good Hope) is currently priced at -$0.610/MMBtu.
  • The European share of global LNG fell to 24% in 2024 from 30% in 2023, as Asia rebuilt its share, according to ICIS.
  • LNG transit through the Panama Canal saw a slight uptick in December, Platts said.
  • End-month open interest and traded volume for JKM LNG futures reached unprecedented levels in 2024, Platts said.
  • The first LNG cargo has arrived at Hindustan Petroleum’s 5 mtpa Chhara LNG terminal in Gujarat, India, according to Vortexa.