Natural Gas End of Day Summary: Henry Hub Up on Week

Henry Hub reversed earlier losses and has climbed throughout the day amid forecasts for colder weather across much of the US. Front month is set for a gain of around 13% since the start of the week.

• US Natgas FEB 24 up 2.5% at 2.89$/mmbtu
• US Natgas JUL 24 up 1.9% at 2.88$/mmbtu
• Domestic natural gas demand is up again to 103.7bcf/d according to Bloomberg.
• Below normal temperatures are expected to spread across the US with the 8-14 day NOAA forecast showing below normal for most of the country.
• Sabine pilot service has been suspended Jan. 5 due to high winds and rough seas, according to Bloomberg citing Moran shipping. The Sabine pilot service would affect Sabine Pass LNG terminal, although Cheniere did not respond to Bloomberg’s request for comment.
• US gas rigs were down two on the week to 118, according to Baker Hughes
• Algeria gas flow to Italy at Mazara have recovered slightly back up to 45.65mcm/d.
• India’s GAIL signed a 10-year supply deal with Vitol to purchase 1mtpa of LNG starting in 2026.
• LNG imports to Asia rose to a record 26.61m metric tons in December from 23.35m tons in November but set against higher global supplies according to Kpler.
• Finland is preparing to ban imports of LNG from Russia, according to Climate Minister Kai Mykkanen. The target introduction is 2025.