Natural Gas Storage Report - April 27

[dan_s]

Working gas in storage was 2,189 Bcf as of Friday, April 21, 2017, according to EIA estimates. This represents a net increase of 74 Bcf from the previous week. Stocks were 358 Bcf less than last year at this time and 299 Bcf above the five-year average of 1,890 Bcf. At 2,189 Bcf, total working gas is within the five-year historical range.

Weekly increases usually ramp up to 90 to 100 Bcf in mid-May to mid-June, then they decline as summer heat increases demand from the utilities for power generation. Demand is set to increase in the 3rd quarter for exports (Train #3 at Cheniere's Sabrine Pass comes on-line in July) and industrial demand (feedstock for petrochemical plants).

Denver expecting a big late season snow storm (up to 8 inches) starting Friday night and most of the day Saturday. Good news for skiers.