EIA - Natural Gas Storage Report - Jan 19
Posted: Thu Jan 19, 2023 11:42 am
Working gas in storage was 2,820 Bcf as of Friday, January 13, 2023, according to EIA estimates.
This represents a net decrease of 82 Bcf from the previous week. < Larger than I expected the draw to be.
Stocks were 19 Bcf less than last year at this time and 34 Bcf above the five-year average of 2,786 Bcf.
At 2,820 Bcf, total working gas is within the five-year historical range.
Next week's report should also be bearish with a draw under 100 Bcf (compared to the 5-year average draw of 166 Bcf). The draw for the week ending January 27 should be back to the average.
We need a colder than average February and we need Freeport LNG facilities back online.
This represents a net decrease of 82 Bcf from the previous week. < Larger than I expected the draw to be.
Stocks were 19 Bcf less than last year at this time and 34 Bcf above the five-year average of 2,786 Bcf.
At 2,820 Bcf, total working gas is within the five-year historical range.
Next week's report should also be bearish with a draw under 100 Bcf (compared to the 5-year average draw of 166 Bcf). The draw for the week ending January 27 should be back to the average.
We need a colder than average February and we need Freeport LNG facilities back online.