EIA Natural Gas Storage Report - Dec 27
Posted: Fri Dec 27, 2024 11:25 am
Working gas in storage was 3,529 Bcf as of Friday, December 20, 2024, according to EIA estimates.
This represents a net decrease of 93 Bcf from the previous week.
Stocks were 14 Bcf higher than last year at this time and 166 Bcf above the five-year average of 3,363 Bcf.
At 3,529 Bcf, total working gas is within the five-year historical range.
Celsius Energy forecast for the week ending December 27 will be a draw of 135 Bcf, which will cause inventories to go ~100 Bcf lower than were stocks were a year ago. For the week ending January 3 the draw should be 70-100 Bcf, which compares to the 5-year average of 172 Bcf.
Based on my WAG, storage should be ~50 Bcf above the five-year average at the end of January.
Normal winter and increasing LNG exports should push storage below the 5-year average by the end of March.
This represents a net decrease of 93 Bcf from the previous week.
Stocks were 14 Bcf higher than last year at this time and 166 Bcf above the five-year average of 3,363 Bcf.
At 3,529 Bcf, total working gas is within the five-year historical range.
Celsius Energy forecast for the week ending December 27 will be a draw of 135 Bcf, which will cause inventories to go ~100 Bcf lower than were stocks were a year ago. For the week ending January 3 the draw should be 70-100 Bcf, which compares to the 5-year average of 172 Bcf.
Based on my WAG, storage should be ~50 Bcf above the five-year average at the end of January.
Normal winter and increasing LNG exports should push storage below the 5-year average by the end of March.