Depending on the current location of the storm, traders should be aware that key LNG facilities have been damaged or survived the storm.
On Friday, October, natural gas futures rose $ 4.388, or $ 0.177.
Half of Friday (48.8% of the natural gas produced in the Gulf of Mexico) was taken offline. GOM’s natural gas production was 1.088 Bcf / d before the federal water shutdown. Homeland Security and Environmental Protection Agency (BEEE) reports. GOM also contributes about 5% of the country’s natural gas supply today.
Short view
Threats of LNG demand, which accounts for about 10% of GDP, were supported by natural gas on Thursday and Friday. At the time, Hurricane Ida was ravaging Louisiana’s export facilities.
NatGasWeather says Louisiana is in a “very dangerous eye wall intersection” in East Texas. Depression is expected to be more pronounced due to rain, strong winds, power outages and freezing. A decline in LNG exports is also expected.
“If the Cameroon LNG facility in Louisiana is not directly affected by the impact, it will depend on how much LNG food gas is reduced and how long it will depend,” said Nittas Water.
He said the companies would like to see LNG continue to flow as much as possible to strengthen exports. Alternatively, you may choose to see Cameron’s sacrifice on the Sabine Pass LNG, which consumes 3.5 BCF / D.
According to NatGasWeather, this track really holds on to the new NCHH and global forecasting system forecasts. Ida also said, “She must be strong enough to inflict damage on Cameron LNG, especially if Ida’s trail shifts slightly eastward.”