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Natural Gas Storage Report - Jan 15
Posted: Thu Jan 15, 2015 11:23 am
by dan_s
Working gas in storage was 2,853 Bcf as of Friday, January 9, 2015, according to EIA estimates. This represents a net decline of 236 Bcf from the previous week. Stocks were 282 Bcf higher than last year at this time and 113 Bcf below the 5-year average of 2,966 Bcf.
This is a start. We need Ngas in storage to get below 1,500 Bcf by the end of April to have any chance of the gas price holding over $3.00 this summer.
Re: Natural Gas Storage Report - Jan 15
Posted: Thu Jan 15, 2015 11:26 am
by dan_s
Looks like cold will be moving into the upper Midwest in a few days. That should help.
States that burn the most gas for space heating: Illinois, Michigan, Wis, Minn, Ohio, Texas.
We get the really big draws from storage when cold moves deep into the South, where everyone heats with gas.
Re: Natural Gas Storage Report - Jan 15
Posted: Thu Jan 15, 2015 12:41 pm
by dan_s
EIA expects the Henry Hub natural gas spot price to average $3.52/million British thermal units (MMBtu) this winter compared with $4.51/MMBtu last winter, reflecting both lower-than-expected space heating demand and higher natural gas production this winter. Turning to annual measures, EIA expects the Henry Hub natural gas spot price to average $3.44/MMBtu in 2015 and $3.86/MMBtu in 2016, compared with $4.39/MMBtu in 2014.