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US Natgas Holding Steady as Freeport LNG Progress Towards Restart


US Natgas is holding relatively unchanged over the last week bouncing between about 2.36$/mmbtu and 2.57$/mmbtu.

    • US Natgas MAR 23 down -0.5% at 2.44$/mmbtu
  • Further progress towards the Freeport LNG export terminal is providing support with natural gas pipeline flows to the terminal on track to resume on Tuesday according to Refinitiv. Partial operations are aiming to resume this month but a return to full capacity is not expected until at least March. Deliveries to US LNG export terminals are today estimated at 12.6bcf/d according to Bloomberg.
  • Natural gas production is unchanged from yesterday at approximately 100.5bcf/d.
  • The latest NOAA weather forecast is also similar to yesterday with above normal temperatures expected in the east and below normal in the west. Lower 48 dry gas consumption is today estimated below normal at 86.9bcf/d.
  • Export flows to Mexico are steady at 6.5bcf/d and EIA last week reported storage levels just above the five year average at 2,583bcf.

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