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US Edges Higher: Cooler in the East and Lower Sabine Pass Supply

NATGAS

US Natgas front month is ticking higher with above normal domestic demand and despite production maintaining high levels.

    • US Natgas NOV 22 up 1% at 6.82$/mmbtu
  • The weather forecast is split with temperatures below normal in the East and above normal in the West throughout the two week forecast period. Demand is today estimated above normal at 66.1bcf/d but down from over 68bcf at the weekend.
  • US production is holding just below recent record levels at around 102bcf/d while US flows to Mexico were steady at nearly 6.4bcf/d over the weekend.
  • Deliveries to LNG export terminals have fallen today back to 10.4bcf/d due to a drop in deliveries to Sabine Pass. Sabine Pass deliveries had recovered over the weekend bringing the total deliveries to 11.3bcf/d after restrictions last week due to maintenance to a feed pipe to the terminal. Deliveries to Cove Point are currently halted due to maintenance with Freeport still offline with the aim for a gradual return during November.
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