Working gas in storage was 3,646 Bcf as of Friday, October 13, 2017, according to EIA estimates. This represents a net increase of 51 Bcf from the previous week. Stocks were 179 Bcf less than last year at this time and 35 Bcf below the five-year average of 3,681 Bcf. At 3,646 Bcf, total working gas is within the five-year historical range.*
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A big change to North America's weather is coming, thanks to a major hurricane heading to Japan today. The shift will bring the first blast of winter to the Great Lakes Region by the end of next week. See daily update at: https://www.weatherbell.com/premium/
Regardless, it is now a good bet that the winter heating season will begin mid-November with more than 100 BCF less gas in U.S. storage than the 5-year average and more than 250 BCF less gas in storage than we had last year.
December is also forecast to be colder than normal in the Great Lakes Region (where the most gas is consumed for space heating). This situation is shaping up to the pattern we had at the end of 2013. By Christmas, 2013 natural gas in storage had plunged way below the 5-year average. The "physical market" tightening caused utility companies to bid against each other for supply, which resulted in ngas prices spiking to $6.00/MMBtu.
* The 5-year average ngas in storage to begin the winter heating season is 3,877 BCF.
Natural Gas Storage Report - October 19
Natural Gas Storage Report - October 19
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Natural Gas Storage Report - October 19
As Gas Use Surges, China Sees 'Harsh' Winter Without More Supply. Bloomberg.
Chinese regulators warned that the nation may face a “harsh” supply situation this winter if natural gas supplies can’t keep up with its booming demand. Surging use of the fuel -- powered by President Xi Jinping’s pro-gas policies -- combined with inadequate infrastructure such as pipeline connections and storage, may create a severe supply shortfall as weather turns colder, the National Development & Reform Commission said in a statement Thursday. The nation’s top regulator called on state-run producers to ensure sufficient supply.
Why we want fracking in Illinois. Crain’s Chicago Business, opinion.
Tom Harbour, village president of Enfield, population 625, recently told the Southern Illinoisan that "99 percent" of local residents support fracking. Folks who actually live where fracking would occur realize that although Illinois has problems, fracking isn't one of them. In fact, it could be part of the solution to the state's nightmarish financial mess. That's probably why Gov. Bruce Rauner isn't listening to the debunked anti-fracking claims made by Stephen Nickels of Illinois People's Action in a recent op-ed. Illinois is on the verge of bankruptcy. Its residents are fleeing, and our public schools are the worst-funded in the country. Illinois is in dire need of an economic boost, and we need look no further than Ohio to see how fracking can provide it. Property taxes on shale oil and gas production in Ohio have already generated more than $43 million in revenue for local municipalities in the early stages of Utica Shale development. Those figures are projected to swell to $250 million by 2026, and a huge chunk goes to public schools. Similar taxes on Illinois shale production could make an even bigger impact here, considering 62 percent of property taxes go directly to public school funding.
Chinese regulators warned that the nation may face a “harsh” supply situation this winter if natural gas supplies can’t keep up with its booming demand. Surging use of the fuel -- powered by President Xi Jinping’s pro-gas policies -- combined with inadequate infrastructure such as pipeline connections and storage, may create a severe supply shortfall as weather turns colder, the National Development & Reform Commission said in a statement Thursday. The nation’s top regulator called on state-run producers to ensure sufficient supply.
Why we want fracking in Illinois. Crain’s Chicago Business, opinion.
Tom Harbour, village president of Enfield, population 625, recently told the Southern Illinoisan that "99 percent" of local residents support fracking. Folks who actually live where fracking would occur realize that although Illinois has problems, fracking isn't one of them. In fact, it could be part of the solution to the state's nightmarish financial mess. That's probably why Gov. Bruce Rauner isn't listening to the debunked anti-fracking claims made by Stephen Nickels of Illinois People's Action in a recent op-ed. Illinois is on the verge of bankruptcy. Its residents are fleeing, and our public schools are the worst-funded in the country. Illinois is in dire need of an economic boost, and we need look no further than Ohio to see how fracking can provide it. Property taxes on shale oil and gas production in Ohio have already generated more than $43 million in revenue for local municipalities in the early stages of Utica Shale development. Those figures are projected to swell to $250 million by 2026, and a huge chunk goes to public schools. Similar taxes on Illinois shale production could make an even bigger impact here, considering 62 percent of property taxes go directly to public school funding.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group