Though prices have descended in recent days, they soared most of this year amid worries about inadequate supplies.
Overall, after a modest start to November in terms of gas consumption, forecasts continued to show “exceptionally light demand” for the remainder of the current week.
The European model early this week “suggested the pattern for December would be warmer than normal over vast stretches of the U.S.
NGI estimated that LNG feed gas volumes eclipsed the 12 Bcf level, near a record, as demand from both Asia and Europe continues to prove robust as it has for months.
Exports will “most likely” remain close to capacity for the remainder of this year and in 2022 to meet global demand, the agency said.
The Russian vow, in concert with early expectations for a mild weather start to winter in Europe, put downward pressure on Dutch Title Transfer Facility prices Tuesday, the EBW analysts said.
A Bloomberg poll found injection estimates ranging from 8 Bcf to 15 Bcf, with a median of 9 Bcf.
“As the weather gets colder, there will be only two more small injections before the end of the season,” Energy Aspects said.
Last week’s result marked the eighth straight period that EIA reported a solid build that dwindled the inventory deficit versus the five-year average.
A freezing weather system is expected to descend from Canada on Wednesday into the Northern Plains and steadily expand over the nation’s midsection and then into the East as the week progresses.
On the pipeline front, meanwhile, Tennessee Gas Pipeline elevated an emergency repair project to a force majeure near Station 114, effective Tuesday and continuing until further notice, because of potential damage by a third party in Catlettsburg, KY.
Sempra is budgeting a record high $15 billion five-year capital plan for its Texas electric utility as it works to meet projected load growth in “one of the fastest growing markets in the country,” CEO Jeff Martin said late last week.