Commodity Market Report

North America gas markets short-term outlook: Freeport LNG outage provides much needed storage relief

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23 June 2022

North America gas markets short-term outlook: Freeport LNG outage provides much needed storage relief

Report summary

Despite just past the summer solstice, sweltering temperatures above or at near record triple digit highs threatened Henry Hub gas prices to cross into double digits as it increased its risk premia to price up to global gas prices. Perhaps running at prolonged high utilization rates under extreme heat was just too much, but a “water hammer” like event at Freeport LNG resulted in an explosion and complete outage on 8 June. With an expected near 250 bcf loss of US feedgas requirements, a much needed storage cushion will loosen North America gas markets. Along with it, the risk premia to price up to global gas prices has diminished, although we are not yet out of the woods with storage still expected lower than the five-year average prior to the start of winter 2022/23.

Table of contents

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Tables and charts

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What's included

This report contains:

  • Document

    June 2022 STO.pdf

    PDF 864.47 KB

  • Document

    Basis Outlook.xls

    XLS 118.50 KB

  • Document

    Demand Detail.xls

    XLS 864.00 KB

  • Document

    Industrial Index.xls

    XLS 125.00 KB

  • Document

    LNG Detail Incl Export.xls

    XLS 248.50 KB

  • Document

    NGL Price Outlook.xls

    XLS 645.50 KB

  • Document

    Northeast Takeaway Capacity.xlsx

    XLSX 484.69 KB

  • Document

    Power Demand Curve.xls

    XLS 183.50 KB

  • Document

    Price Outlook.xls

    XLS 127.00 KB

  • Document

    Supply Detail.xlsx

    XLSX 319.90 KB

  • Document

    Supply Demand Balances.xls

    XLS 361.00 KB

  • Document

    Storage Outlook.xls

    XLS 169.00 KB