LNG feedgas dropped by 0.7 Bcf/d today down to recent lows of 12 Bcf/d, with Sabine Pass primarily responsible.
The terminal has dropped low enough in recent days to suggest that an entire train may be offline.
While today’s early data suggests production to be unchanged on the day, late-cycle nominations revised yesterday’s initial estimates down about 0.5 Bcf/d to 101.7 Bcf/d.
Flows data out of Appalachia indicates that the region is still the culprit for recent weakness in production; if levels remain stagnant there well beyond expected maintenance timelines, it may indicate that producers have made more permanent cuts to output.
Source: Gelber & Associates
