• A colder weather pattern has settled in for the period January 23-29 and early projections for February are for colder-than-normal weather.
  • Cold weather, high levels of exports, and disruption to production will take a large chunk out of storage during the next couple of weeks.
  • As the natural gas storage surplus fades away, production will be key to keeping natural gas prices from spiking.
  • European LNG export demand is rising as the European natural gas storage surplus to the five-year average has dropped although this has not caused an undo increase in European LNG prices.