EIA - Natural Gas Storage Report - Aug 4

[dan_s]

Working gas in storage was 2,457 Bcf as of Friday, July 29, 2022, according to EIA estimates.
This represents a net increase of 41 Bcf from the previous week.
Stocks were 268 Bcf less than last year at this time and 337 Bcf below the five-year average of 2,794 Bcf.
At 2,457 Bcf, total working gas is within the five-year historical range.

Over the last 13 weeks (a quarter) the net increase in storage has been 26 Bcf below the 5-year average. There is no indication yet that the utilities will be able to refill storage back to the 5-year average (3,735 Bcf) before the next winter heating season begins in mid-November.

There are now just 15 weeks remaining in the refill season.

5 year average builds in August
Week ending
Aug 5 = 44 Bcf
Aug 12 = 47 Bcf
Aug 19 = 45 Bcf
Aug 26 = 48 Bcf
Sep 2 = 65 Bcf

BIG NEWS YESTERDAY: The Freeport LNG export facility is now expected to come back online by the end of October and ramp up to exports of 2 Bcfpd by November at the same time that demand for all space heating fuels ramps up.