US Recovers Ground on Increasing LNG exports

US Natgas regains some ground with increasing natural gas deliveries to LNG export terminals and despite the warm weather at the end of the month.

• US Natgas JAN 23 up 3% at 5.49$/mmbtu
• Deliveries to US LNG export terminals are today estimated up to the highest since the Freeport outage at 13.12bcf/d. Flows are expected to increase further into next year as Freeport LNG are still targeting an initial restart around the end of the year having submitted restart plans to the regulator yesterday.
• Cold weather in eastern areas is forecast to give way to above normal temperatures at the end of the month. Most of the US will see above normal in the 8-14 day period although temperatures could trend back towards normal on the west coast early in January. Current lower 48 dry gas demand is at the top of the five year range at 105.5bcf/d.
• US natural gas production was stable yesterday at 100.5bcf/d while export to Mexico were at 6.6bcf/d.