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US Holding Steady After Freeport Confirm Restart Delay

NATGAS

US Natgas holding near Friday close levels on mixed weather forecasts and steady supplies after Freeport LNG confirm delayed restart of exports.

    • US Natgas DEC 22 down -0.4% at 6.28$/mmbtu
  • Current lower 48 dry gas consumption is above normal for the time of year at 95.1bcf/d but temperatures are forecast to warm up with near or above normal expected across the country in the 6-10 day outlook. Temperatures on the west coast may dip back below normal towards the end of the month.
  • Dry gas production is today estimated at 100.7bcf/d with output relatively unchanged since the start of September.
  • On Friday Freeport LNG confirmed the expected delay to the restart of the LNG export facility with initial production expected in mid-December subject to meeting regulatory requirements. Output is expected around 2bcf in Jan 2023 and full output in March 2023. Total deliveries to US export terminals are today steady at 12.4bcf/d. Exports to Mexico are today estimated at 6.2bcf/d.
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