Henry Hub is losing ground today, erasing much of the sharp gains on Friday.
- US Natgas MAY 25 down 4.1% at 3.95$/mmbtu
- US Natgas JUN 25 down 3.8% at 4.1$/mmbtu
- Lower 48 natural gas demand is up 0.45 bcf/d to 77.5 bcf/d, the 30-day average is 79 bcf/d, BNEF shows.
- NOAA average lower 48 temperatures 6–10-day forecast continues showing cooler than 30-year normal east of the Rockies and above normal for the West, cooler weather spreading further into the interior US.
- US domestic natural gas production is down 3.89 bcf/d to 103.7 bcf/d, BNEF said, the lowest since Feb. 20.
- US natural gas flows to LNG terminals fell by 0.9 Bcf/d today, underpinned by a 0.6 Bcf/d decline in flows to Corpus Christi LNG, according to Bloomberg data.
- Angola LNG has temporarily shut down its export plant for essential maintenance, Bloomberg said.
- Russia’s Arctic LNG 2 plant appears to have flared last week, a move that could indicate a restart in production, Bloomberg reports.
- Six new pipelines and expansion projects will add 11.8 bcf/d of supply to the USGC in the coming years, with 8 bcf/d incremental expansion of LNG export capacity over the same period, RBN said.
- A sanctioned vessel is nearing Shanghai, potentially the first time a Russian dark fleet tankers lands at a foreign port.
- Russia's LNG exports fell by 1.2% year-on-year in Q1 to 8.1m mt amid continued sanctions., Reuters said.
- Returning Russian flows to Europe and sanctions relief could drive JKM as low as $10.30/, Rabobank said. If sanctions remain and EU flows are curtailed, JKM will trade in the $12-$14/MMBtu range.