Natural Gas Storage Report - October 2

dan_s · Post by **dan_s** » Thu Oct 02, 2014 5:09 pm

Working gas in storage was 3,100 Bcf as of Friday, September 26, 2014, according to EIA estimates. This represents a net increase of 112 Bcf from the previous week. Stocks were 373 Bcf less than last year at this time and 399 Bcf below the 5-year average of 3,499 Bcf.

Looks like we will end up around 3,650 Bcf at the beginning of winter heating season, compared to 3,843 Bcf at the beginning of last winter. Note that I have raised my forecast end of refill season storage level by 150 Bcf. This is because of some mild weather now forecast for October. Joe Bastardi is now forecasting the first real cold wave coming in early November.

5-year average to begin winter is 3,850 Bcf and there is no way to reach that level. Draws from storage normally begin the 3rd week of November.