Strong Draw 151 BCFGas Storage Numbers It was June 8, 2022 that Freeport LNG has the fire that curtailed the shipment of 2 BCF of gas daily from the United States.
That is roughly 8 months of downtime and the Facility is in the process of restarting. If it were to export 2BCF day that would of reduced the gas storage numbers by roughly 480 BCF.
Currently with mild winter weather, and reduced exports of LNG we have 222 BCF more in storage than last year.
But what if?
- If Freeport didn't go down we would like be 100 to 250 BCF below last years storage levels even with high gas prices all last summer.
- What if we had a more normal winter with more cold weather we would likely be more or less at the same storage levels we were at last year.
So as a result of warm weather, and Freeport not running gas storage is high, but not that high. A good cold snap and the startup of Freeport (14 BCF/Week) with put some legs under the gas market is my guess.
IMHO