US Pulls Back as Deliveries to Sabine Pass LNG Fall

US Natgas pulls back slightly, losing some of the gains made yesterday after a 1bcf/d fall in flows to Sabine Pass LNG export terminal. Higher exports due to the return of LNG terminals and the cold weather risks going into the winter have supported prices up from a low of 4.8$/mmbtu on Oct 24.

• US Natgas DEC 22 down -4.9% at 6.05$/mmbtu
• Total deliveries to LNG export terminals are down to 11.21bcd/d from 12.16bcf/d yesterday. The fall in flows to Sabine Pass is offsetting the increase from Cove Point from late last week resulting in flows approximately the same as the October average.
• The forecast for below normal temperatures in the west coast and central US is supporting demand while above normal temperatures are still expected in the eastern US. Lower 48 dry gas demand was yesterday estimated just below normal at 68.6bcf/d.
• US production has remained steady over the last couple of weeks the yesterday around 101.8bcf/d. Exports to Mexico were yesterday at around 6.4bcf/d.