North America gas weekly update: Hurricane Ian may impact power demand
No offshore GoM pipelines are expected to be impacted as Hurricane Ian’s track turns toward a landfall near Tampa, Florida. Although little supply impacts are expected as a result, power demand may fall further and LNG tanker traffic may be disrupted. Falling seasonal demand amidst higher supply is driving yet another triple-digit US L48 storage injection and pressuring Henry Hub gas prices lower. In the weeks ahead the North America gas market asks: • Are even higher triple-digit storage injections upcoming? • How low will overall demand fall? • Will US gas production continue its record highs?