EIA - Natural Gas Storage Report - Dec 7

[dan_s]

Working gas in storage was 3,719 Bcf as of Friday, December 1, 2023, according to EIA estimates.
This represents a net decrease of 117 Bcf from the previous week. < I was expecting a draw of ~80 Bcf.
Stocks were 254 Bcf higher than last year at this time and 234 Bcf above the five-year average of 3,485 Bcf.
At 3,719 Bcf, total working gas is within the five-year historical range.

Something to keep in mind: Last winter the draws from storage for the first three weeks of January were 383 Bcf below the 5-year average. So, if we just have draws close to the 5-year average for January, we should see storage levels back to "normal" by the end of January.

Keeping LNG exports close to capacity (14 Bcf per day) will go a long way to solving this problem.