EIA - Natural Gas Storage Report - Feb 25
Posted: Thu Feb 25, 2021 10:37 am
Working gas in storage was 1,943 Bcf as of Friday, February 19, 2021, according to EIA estimates. This represents a net decrease of 338 Bcf from the previous week.
Stocks were 298 Bcf less than last year at this time and 161 Bcf below the five-year average of 2,104 Bcf.
At 1,943 Bcf, total working gas is within the five-year historical range.
The gap to the 5-year average will continue to grow and I expect draws to continue through April because of lower U.S. production and higher exports.
My WAG is that gas in storage will be 1,518 Bcf at the end of April, which compares to the 5-year average at the end of April of 2,018 Bcf. This 500 Bcf gap will be very difficult to fill before the winter of 2021-2022 arrives.
Stocks were 298 Bcf less than last year at this time and 161 Bcf below the five-year average of 2,104 Bcf.
At 1,943 Bcf, total working gas is within the five-year historical range.
The gap to the 5-year average will continue to grow and I expect draws to continue through April because of lower U.S. production and higher exports.
My WAG is that gas in storage will be 1,518 Bcf at the end of April, which compares to the 5-year average at the end of April of 2,018 Bcf. This 500 Bcf gap will be very difficult to fill before the winter of 2021-2022 arrives.