US Natgas Rebounds With Increasing Feedstock Supply to Freeport LNG

US Natgas is regaining most of the lost ground from yesterday as the market watches closely for further indication for the expected timing of the Freeport LNG terminal restart. On 11 Feb federal officials said there’s no firm timeline for the resumption of full operations. Freeport has asked for government authorization to restart key units such as gas-liquefaction modules.

• US Natgas MAR 23 up 4.7% at 2.52$/mmbtu
• Feedstock gas flows to the Freeport terminal are today higher again up to 0.74bcf/d taking total deliveries to US export terminals up to 13.53bcf/d.
• The latest NOAA 14 day weather forecast is largely unchanged with cooler temperatures in the west spreading into more central areas late in the period but warm weather remaining in the east. Domestic consumption is today slightly lower than yesterday at 84bcf/d.
• The latest EIA drilling report has projected total natural gas output in the major shale basins will increase by about 0.4bcf/d to a record 96.6 bcf/d in March but revised Feb output lower. Lower 48 dry gas production was yesterday estimated at 101.6bcf/d.