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Uncertainty Over Freeport LNG Before EIA Stock Data Release

NATGAS

US Natgas gaining ground slightly with Freeport LNG uncertainty ahead of an expected above normal build in US inventory data later today.

    • US Natgas DEC 22 up 1.7% at 5.96$/mmbtu
  • The expectation is for EIA to show another above normal build of +83bcf for the week ending Nov 4 compared to +107bcf last week and the 5-year average for this time of year of +28bcf. Below normal demand, the ongoing Freeport LNG outage and strong production are expected to contribute to the weekly stock build.
  • Current lower 48 dry gas demand was yesterday below normal at 72.6bcf/d but temperatures are forecast to fall next week with below normal expected until the end of the two week forecast period.
  • Uncertainty around the return of Freeport LNG is adding to the market volatility with no confirmation of when flows might resume. Deliveries to US LNG terminals are today holding steady estimated at 11.52bcf/d. Exports to Mexico are also steady at 6.5bcf/d.
  • US production down from the peak in early October but still strong around 100bcf/d.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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