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US Natgas Edges Higher on Increasing Gas Deliveries to LNG Terminals

NATGAS

US Natgas is edging higher again today as the restart of Freeport LNG makes further progress with the export of a partial cargo from storage tanks and higher pipeline natural gas supplies. The full restart of the facility still requires further approvals.

    • US Natgas MAR 23 up 0.8% at 2.53$/mmbtu
  • Over the weekend Freeport exported its first partial cargo from storage tanks since the explosion and fire that the facility in June. Pipeline gas flows to the terminal are gradually rising according to Bloomberg data with today up to 0.47bcf/d from around 0.11bcf/d last week. Total deliveries to US LNG export terminals are today estimated up to the highest since May last year at 13.29bcf/d.
  • Domestic consumption is today just below normal at 87.1bcf/d compared to the normal for the time of year of around 95bcf/d. The latest NOAA 14 day weather forecast is largely unchanged from last week with warm weather in the east but with cooler temperatures in the west spreading into more central areas late in the period.
  • Lower 48 dry gas production remains steady at 101.2bcf/d today while export to Mexico are at 6.3bcf/d.
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