Natural Gas Storage Report - July 24

dan_s · Post by **dan_s** » Thu Jul 24, 2014 3:55 pm

Working gas in storage was 2,219 Bcf as of Friday, July 18, 2014, according to EIA estimates. This represents a net increase of 90 Bcf from the previous week. Stocks were 561 Bcf less than last year at this time and 683 Bcf below the 5-year average of 2,902 Bcf.

It now looks like next winter will begin with ~3,500 bcf in storage, compared to last year when we started with 3,834 bcf.

There are 17 more weeks before winter draws begin.
Historical builds during this period:
> 5-year average = 969 bcf
> Last year was 1089 bcf
It will take injections of 1,281 bcf to reach my forecast of 3,500 bcf.

Mild summer is allowing more gas to go to storage this year.