Natural Gas Storage Report - August 27
Posted: Thu Aug 27, 2015 10:44 am
Working gas in storage was 3,099 Bcf as of Friday, August 21, 2015, according to EIA estimates. This represents a net increase of 69 Bcf from the previous week. Stocks were 480 Bcf higher than last year at this time and 88 Bcf above the 5-year average of 3,011 Bcf.
Despite a rather mild summer and no hurricane activity in the Gulf of Mexico, storage level is just a bit above the 5-year average. Keep in mind that natural gas demand is much higher today than it was five years ago. Check the previous post. North American gas production is falling and gas demand will be ~3 BCF per day higher in 2016.
Despite a rather mild summer and no hurricane activity in the Gulf of Mexico, storage level is just a bit above the 5-year average. Keep in mind that natural gas demand is much higher today than it was five years ago. Check the previous post. North American gas production is falling and gas demand will be ~3 BCF per day higher in 2016.