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US Extends Decline, Down 15% on Week

NATGAS

US Natgas front month is drifting lower with strong production maintained and with weather forecasts suggesting a return towards normal at the end of the month.

    • US Natgas NOV 22 down -1.1% at 5.68$/mmbtu
  • Demand is estimated up at 78bcf/d with cold weather in the West and above normal temperatures expected in the East. Forecasts suggest a return towards normal across the country towards the end of the month.
  • Deliveries to US LNG export terminals are just above 12bcf/d with strong flows to Sabine Pass after restrictions earlier this month. Cove Point has been offline for regular maintenance since the start of the month and is typically offline for three weeks. Freeport LNG is currently expected to gradually return to operation during November.
  • Lowe 48 dry gas production is steady at around 100.3bcf/d while exports to Mexico are largely unchanged at around 6.5bcf/d.
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