EIA - Natural Gas Storage Report - Sept 10
Posted: Thu Sep 10, 2020 10:10 am
Working gas in storage was 3,525 Bcf as of Friday, September 4, 2020, according to EIA estimates. This represents a net increase of 70 Bcf from the previous week.
Stocks were 528 Bcf higher than last year at this time and 409 Bcf above the five-year average of 3,116 Bcf.
At 3,525 Bcf, total working gas is above the five-year historical range.
Since a lot of GOM production was still shut-in during the week ending Sept 4 I was expecting a smaller build. However, in the last 13 weeks (a quarter of the year), the builds are 12 Bcf below the five year average.
There are nine more weeks in the storage refill period before winter draws normally begin. The 5-year average is a build of 645 Bcf, which would push storage up to 4,170 Bcf. The maximum working storage capacity is estimated to be 4,200 Bcf.
Stocks were 528 Bcf higher than last year at this time and 409 Bcf above the five-year average of 3,116 Bcf.
At 3,525 Bcf, total working gas is above the five-year historical range.
Since a lot of GOM production was still shut-in during the week ending Sept 4 I was expecting a smaller build. However, in the last 13 weeks (a quarter of the year), the builds are 12 Bcf below the five year average.
There are nine more weeks in the storage refill period before winter draws normally begin. The 5-year average is a build of 645 Bcf, which would push storage up to 4,170 Bcf. The maximum working storage capacity is estimated to be 4,200 Bcf.