US NATGAS: Northeast Gas Prices Trending Down
Feb-13 18:01
In the US Northeast, regional hubs are largely pricing down on the day, with higher flows to the region and lower demand narrowing the supply-demand balance.
- Day-on-day price changes according to NGI data:
- Transco zone 6 NY, down 15 cents/MMBtu
- Transco non-NY down 5.5 cents/MMBtu,
- Tetco M3 down 15.5 cents/MMBtu.
- Eastern Gas (Dominion) South is up 29.5 cents/MMBtu, around its highest level since Jan. 22
- Northeast demand is currently at 42.45bcf/d, down by around 0.55bcf/d. Demand is 5.88bcf/d above the 30-day average.
- Production in the region is around 35.69bcf/d, down around 0.31bcf/d on the day.
- Production from the Appalachia shale play is 35.17bcf/d, down around 0.33bcf/d on the day. This compares to a 30-day average of 35.07bcf/d.
- Imports from Canada are up to around 389 mcf/d today. This compares to 360 mcf/d yesterday.
- Feedgas exports to Cove Point LNG are currently at 932 mcf/d , up around 19 mcf/d today.
- This puts the daily supply vs demand deficit at around 5.88 bcf/d, narrowing by 1.49 bcf/d on the day.
- This region includes New York, Ohio, Pennsylvania, Virginia, West Virginia, and Maryland. Non-pricing data is from Bloomberg.
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