GAZB - Natural Gas: Consumption Is Weak Exports Are Strong
- This Thursday, I expect the EIA to report 2,731 bcf of working gas in storage for the week ending July 30.
- I anticipate seeing a build of 17 bcf, 13 bcf smaller vs. the five-year average for this time of the year.
- The latest numerical weather prediction models agree that TTDs should stay mostly above the norm, but there is a large disagreement in terms of scale.
- A seasonal peak in daily natural gas consumption was reached on July 27 (81.1 bcf/d). Consumption is now projected to trend lower and remain mostly below last year's level.
- However, because of rising exports, the total natural gas demand is projected to remain mostly above last year's level.
For further details see:
Natural Gas: Consumption Is Weak, Exports Are Strong