EIA Natural Gas Storage Report - June 13
Posted: Sat Jun 15, 2024 6:58 pm
Working gas in storage was 2,974 Bcf as of Friday, June 7, 2024, according to EIA estimates.
This represents a net increase of 74 Bcf from the previous week.
Stocks were 364 Bcf higher than last year at this time and 573 Bcf above the five-year average of 2,401 Bcf.
At 2,974 Bcf, total working gas is above the five-year historical range.
This is the 7th week in a row that storage builds have been lower than the 5-year average. The trend should continue, but the differences need be larger.
If the large Venture Global LNG export facility comes online in Q3 as scheduled it should push HH ngas firmly over $3.00/MMBtu. Two more large LNG export facilities are expected to come on line in Q4; Cheniere's Train 3 in Corpus Christi and Exxon's Golden Pass Train 1.
This represents a net increase of 74 Bcf from the previous week.
Stocks were 364 Bcf higher than last year at this time and 573 Bcf above the five-year average of 2,401 Bcf.
At 2,974 Bcf, total working gas is above the five-year historical range.
This is the 7th week in a row that storage builds have been lower than the 5-year average. The trend should continue, but the differences need be larger.
If the large Venture Global LNG export facility comes online in Q3 as scheduled it should push HH ngas firmly over $3.00/MMBtu. Two more large LNG export facilities are expected to come on line in Q4; Cheniere's Train 3 in Corpus Christi and Exxon's Golden Pass Train 1.