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US Down on High Production and Lower LNG Exports

NATGAS

Dry gas production sets another new record high driving US Natgas prices down to the lowest since mid July.

    • US Natgas NOV 22 down -3.1% at 6.56$/mmbtu
  • Estimates show US production at 103.2bcf/d on Sunday and still up at 102.3bcf/d today. This time last year production was at approximately 95.5bcf/d and the five-year average is 88.5bcf/d.
  • Deliveries to LNG export terminals have also dipped down from a peak at 12.5bcf/d last week to an estimate of 10.73bcf/d today largely due to maintenance at Cove Point LNG. Cove Point is undergoing maintenance for almost two weeks. The facility has a daily export capacity of 1.8bcf/d with deliveries to the terminal of around 0.75bcf/d last week.
  • US dry gas demand is steady at 65.7bcf/d yesterday with weather forecast showing above normal temperatures in the West and below normal in the East.
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