EIA - Natural Gas Storage Report - June 2
Posted: Thu Jun 02, 2022 10:13 am
Working gas in storage was 1,902 Bcf as of Friday, May 27, 2022, according to EIA estimates.
This represents a net increase of 90 Bcf from the previous week.
Stocks were 397 Bcf less than last year at this time and 337 Bcf below the five-year average of 2,239 Bcf.
At 1,902 Bcf, total working gas is within the five-year historical range.
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May (the month with the lowest demand for natural gas) ends with the deficit to 5-year average growing.
> For the five weeks ending May 27 the deficit increased by 33 Bcf.
> For the 13 weeks (a quarter of a year) ending May 27 the deficit to the 5-year average increased by 118 Bcf.
I expect the deficit to the 5-year average to be ~400 Bcf by the end of June.
Today the U.S. has plenty of natural gas. In six months we won't have enough gas in storage to make it through a cold La Nina winter.
Before we publish the next newsletter, I will update valuations for all of the Sweet 16 and the Small-Cap portfolio companies for the following ngas price assumptions.
2022
Q2: $7.50
Q3: $8.00
Q4: $9.00
2023
Q1: $8.00
Full year: $7.00
This represents a net increase of 90 Bcf from the previous week.
Stocks were 397 Bcf less than last year at this time and 337 Bcf below the five-year average of 2,239 Bcf.
At 1,902 Bcf, total working gas is within the five-year historical range.
--------------------
May (the month with the lowest demand for natural gas) ends with the deficit to 5-year average growing.
> For the five weeks ending May 27 the deficit increased by 33 Bcf.
> For the 13 weeks (a quarter of a year) ending May 27 the deficit to the 5-year average increased by 118 Bcf.
I expect the deficit to the 5-year average to be ~400 Bcf by the end of June.
Today the U.S. has plenty of natural gas. In six months we won't have enough gas in storage to make it through a cold La Nina winter.
Before we publish the next newsletter, I will update valuations for all of the Sweet 16 and the Small-Cap portfolio companies for the following ngas price assumptions.
2022
Q2: $7.50
Q3: $8.00
Q4: $9.00
2023
Q1: $8.00
Full year: $7.00