Natural Gas Storage Report - May 16

[dan_s]

Working gas in storage was 1,964 Bcf as of Friday, May 10, 2013, according to EIA estimates. This represents a net increase of 99 Bcf from the previous week. Stocks were 694 Bcf less than last year at this time and 83 Bcf below the 5-year average of 2,047 Bcf.

We have 4-5 more weeks of large injections, then summer heat arrives and demand for power generation goes up.

IMO each week that passes that we remain below the 5-year average is bullish for gas prices heading into the winter.

[dan_s]

The Energy Information Agency (EIA) reported on Thursday that natural gas imports into Mexico increased by 21% in 2012 to 2.1 Bcfpd. Imports of natgas from the US increased by 24%. According to the EIA's report, US-sourced natgas represented approximately 80% of Mexico's total natgas imports in 2012.