The 5-year average build for the week ending July 14 is 54 BCF.
Working gas in storage was 2,973 Bcf as of Friday, July 14, 2017, according to EIA estimates. This represents a net increase of 28 Bcf from the previous week. Stocks were 299 Bcf less than last year at this time and 141 Bcf above the five-year average of 2,832 Bcf. At 2,973 Bcf, total working gas is within the five-year historical range.
still on track to dip below the 5-yr average by the end of September.
Natural Gas Storage Report - July 20
Natural Gas Storage Report - July 20
Last edited by dan_s on Thu Jul 20, 2017 6:33 pm, edited 1 time in total.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Natural Gas Storage Report - July 20
Weekly Natural Gas Storage Report
Summary
Working gas in storage was 2,973 Bcf as of Friday, July 14, 2017, according to EIA estimates. This represents a net increase of 28 Bcf from the previous week. Stocks were 299 Bcf less than last year at this time and 141 Bcf above the five-year average of 2,832 Bcf. At 2,973 Bcf, total working gas is within the five-year historical range.
If I interpret this information and Dan's previous posts correctly, last week's build of 28 bcf was only about half of the five year average build for that same week. Further, this lower-than-average build continues the storage number's downward trend toward the five-year average, which Dan apparently thinks could be breached later this year, particularly if late July and August see increased electricity generation. All of this occurring at a time when demand (consumption and net export/import) is increased over prior years and continuing to increase.
Summary
Working gas in storage was 2,973 Bcf as of Friday, July 14, 2017, according to EIA estimates. This represents a net increase of 28 Bcf from the previous week. Stocks were 299 Bcf less than last year at this time and 141 Bcf above the five-year average of 2,832 Bcf. At 2,973 Bcf, total working gas is within the five-year historical range.
If I interpret this information and Dan's previous posts correctly, last week's build of 28 bcf was only about half of the five year average build for that same week. Further, this lower-than-average build continues the storage number's downward trend toward the five-year average, which Dan apparently thinks could be breached later this year, particularly if late July and August see increased electricity generation. All of this occurring at a time when demand (consumption and net export/import) is increased over prior years and continuing to increase.
Re: Natural Gas Storage Report - July 20
In March 2017, inventories were 21.0% higher than the five-year average. For the week ending July 14, 2017, inventories are 5% above their five-year average. At the current rate of decline, (~2 Bcf per day), natural gas in storage will be ~100 Bcf below the 5 year average when the next winter heating season begins.
BTW demand for natural gas in the U.S. market (including exports) is more than 10 Bcf per day higher than it was just five years ago AND switching back to coal is not an option in many regions where coal fired power plants have been replaced by gas fired power plants.
This is just starting to sink in. Read: http://marketrealist.com/2017/07/will-u ... yptr=yahoo
BTW demand for natural gas in the U.S. market (including exports) is more than 10 Bcf per day higher than it was just five years ago AND switching back to coal is not an option in many regions where coal fired power plants have been replaced by gas fired power plants.
This is just starting to sink in. Read: http://marketrealist.com/2017/07/will-u ... yptr=yahoo
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group