California natural gas fundamentals are bearish today amid a 12% rise in pipeline receipts, offsetting a 10% rise in demand.
- Total state-wide demand in California is 5.41bcf/d, up by around 0.48bcf/d, or 10% today. Demand is 0.03 bcf/d, or 0.6% below the 30-day average.
- End user demand is up 310 mcf/d, or 7%, to 4.6 bcf/d. This compares to the 30-day average of 4.76 bcf/d.
- Exports to Mexico are 15.2% higher today at 0.41bcf/d. This compares to the 30-day average of 0.34 bcf/d.
- Net natural gas inflows to California via pipeline stand at 5.98bcf/d, up by around 0.64bcf/d, or 12%, on the day. Pipeline inflows are 0.55bcf/d, or 10%, above the 30-day average.
- Driving the jump in flows are 340 mcf/d (30%) increase on Kern River, and a 300 mcf/d (21%) rise on GTN. There are smaller declines on Mohave and Transwestern.
- All demand, supply, and pipeline flows data is from Bloomberg.