US NATGAS: Cali Natgas Fundamentals Lean Bullish

California’s natural gas fundamentals are bullish again today, with the supply deficit seen widening and end user demand rising.

• Total state-wide demand in California is 6.44bcf/d, up by around 0.3bcf/d. Demand is 0.59 bcf/d, or 10.2% above the 30-day average.
• End user demand is up 5%, or 269 mcf/d, to 5.69 bcf/d. This compares to the 30-day average of 5.09 bcf/d. Power, rescom, and industrial usage are each up 5%.
• Exports to Mexico are 0.3% stronger today at 0.33bcf/d. This compares to the 30-day average of 0.36 bcf/d.
• Net natural gas inflows to California via pipeline stand at 5.68bcf/d, up by around 0.03bcf/d, or 1%, on the day. Pipeline inflows are 0.57bcf/d above the 30-day average.
• All demand, supply, and pipeline flows data is from Bloomberg.