Front futures 2.595 +0.042.
From the Energy Information Administration:
Overview:
(For the week ending Wednesday, December 9, 2020)
- Natural gas spot prices fell at most locations this report week (Wednesday, December 2 to Wednesday, December 9). The Henry Hub spot price fell from $2.70 per million British thermal units (MMBtu) last Wednesday to $2.45/MMBtu yesterday.
- At the New York Mercantile Exchange (Nymex), the price of the January 2021 contract decreased 34¢, from $2.780/MMBtu last Wednesday to $2.442/MMBtu yesterday. The price of the 12-month strip averaging January 2021 through December 2021 futures contracts declined 20¢/MMBtu to $2.576/MMBtu.
- The net withdrawals from working gas totaled 91 billion cubic feet (Bcf) for the week ending December 4. Working natural gas stocks totaled 3,848 Bcf, which is 9% more than the year-ago level and 7% more than the five-year (2015–19) average for this week.
- The natural gas plant liquids composite price at Mont Belvieu, Texas, fell by 5¢/MMBtu, averaging $5.39/MMBtu for the week ending December 9. The prices of ethane, isobutane, and butane fell by 6%, 7%, and 9%, respectively. The prices of natural gasoline and propane rose by 4% and 5%, respectively.
- According to Baker Hughes, for the week ending Tuesday, December 1, the natural gas rig count decreased by 2 to 75. The number of oil-directed rigs rose by 5 to 246. The total rig count increased by 3, and it now stands at 323.....
*****
.... U.S. LNG exports increase week over week. Twenty-two LNG vessels (eight from Sabine Pass, five each from Corpus Christi and Freeport, two from Cameron, and one each from Cove Point and Elba Island) with a combined LNG-carrying capacity of 81 Bcf departed the United States between December 3 and December 9, 2020, according to shipping data provided by Bloomberg Finance, L.P.
Corpus Christi LNG terminal in Texas shipped first commissioning cargo from its third liquefaction unit (Train 3) last week. Corpus Christi is a three-train LNG export facility with a combined export capacity of 1.8 Bcf/d baseload (2.0 Bcf/d peak), located in San Patricio County, Texas. Train 3 came online six months ahead of the initially announced in-service date of May 2021.
Currently, the United States has 15 standard-size LNG trains and 10 small-scale Moveable Modular Liquefaction System (MMLS) units in operation across six LNG export facilities with a combined LNG export capacity of 9.5 Bcf/d baseload (10.8 Bcf/d peak).....
....MUCH MORE
Temperatures across the northern tier were very warm during the reporting week, note especially the temperature anomaly map:
