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US Extends Decline on Potential Freeport LNG Delay

NATGAS

US Natgas extends the decline from yesterday on the potential delayed return of Freeport LNG.

    • US Natgas DEC 22 down -3.5% at 5.92$/mmbtu
  • The restart of Freeport could be delayed into December with the faciality yet to file a restart plan to the federal regulators. However, three vessels are reported to be heading towards the area and a Freeport LNG spokeswomen said they are still aiming for a restart this month. Deliveries to US LNG terminals are today estimated at 11.26bcf/d.
  • An expectation of another above normal build in US stocks tomorrow is adding to the downward pressure. The recent below normal demand and high production levels have helped refill storage levels to just 3.4% below the five year average. Natgas production is relatively unchanged around 99.6bcf/d.
  • The weather forecast still shows below normal temperatures in the 6-14 day period across the whole US. Current lower 48 dry gas consumption is still below normal estimated at 72.2bcf/d today.
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US Natgas extends the decline from yesterday on the potential delayed return of Freeport LNG.

    • US Natgas DEC 22 down -3.5% at 5.92$/mmbtu
  • The restart of Freeport could be delayed into December with the faciality yet to file a restart plan to the federal regulators. However, three vessels are reported to be heading towards the area and a Freeport LNG spokeswomen said they are still aiming for a restart this month. Deliveries to US LNG terminals are today estimated at 11.26bcf/d.
  • An expectation of another above normal build in US stocks tomorrow is adding to the downward pressure. The recent below normal demand and high production levels have helped refill storage levels to just 3.4% below the five year average. Natgas production is relatively unchanged around 99.6bcf/d.
  • The weather forecast still shows below normal temperatures in the 6-14 day period across the whole US. Current lower 48 dry gas consumption is still below normal estimated at 72.2bcf/d today.