Natural Gas Storage Report - Sept 3
Posted: Thu Sep 03, 2015 10:22 am
Working gas in storage was 3,193 Bcf as of Friday, August 28, 2015, according to EIA estimates. This represents a net increase of 94 Bcf from the previous week. Stocks were 495 Bcf higher than last year at this time and 122 Bcf above the 5-year average of 3,071 Bcf. [Keep in mind that we use a lot more gas today than we did five years ago.]
The utility companies need 3,800 to 4,000 Bcf in storage by mid-November to meet winter demand.
U.S. natural gas production is falling about 250,000 mcfpd each month now because of the slowdown in well completions.
Cheniere will begin exporting LNG by year-end. This was confirmed at EnerCom.
Joe Bastardi's winter weather forecast is for more cold in the SE quarter of the country (where everyone heats their homes with gas).
The utility companies need 3,800 to 4,000 Bcf in storage by mid-November to meet winter demand.
U.S. natural gas production is falling about 250,000 mcfpd each month now because of the slowdown in well completions.
Cheniere will begin exporting LNG by year-end. This was confirmed at EnerCom.
Joe Bastardi's winter weather forecast is for more cold in the SE quarter of the country (where everyone heats their homes with gas).