Free Trial

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.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.