Working gas in storage was 2,577 Bcf as of Friday, June 26, 2015, according to EIA estimates. This represents a net increase of 69 Bcf from the previous week. Stocks were 662 Bcf higher than last year at this time and 29 Bcf above the 5-year average of 2,548 Bcf.
As the weather heats up across the South, the injections to storage will get smaller. In the United States, utility companies continue to shut down coal fired power plants and replace them with several natural gas fired power plants. Natural gas now provides more of our electricity than coal. Cheniere Energy (NYSE symbol "LNG") will begin exporting natural gas from South Louisiana during the 4th quarter. This will add another layer of demand.
Details: http://ir.eia.gov/ngs/ngs.html
We are very close to the 5-year average for the natural gas storage level, but keep in mind that demand for gas in the United States is much higher than it was five years ago and it will continue to go up. See the 5-4-2015 edition of The View From Houston for a chart (on page 2) that shows the steady increase in demand for natural gas over the next five years.
Natural gas production in Texas is on decline.
Natural Gas Storage Report - July
Natural Gas Storage Report - July
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group