Natural Gas Storage Report - Nov. 25
Posted: Wed Nov 25, 2015 1:24 pm
Working gas in storage was 4,009 Bcf as of Friday, November 20, 2015, according to EIA estimates. This represents a net increase of 9 Bcf from the previous week. Stocks were 554 Bcf higher than last year at this time and 252 Bcf above the five-year average of 3,757 Bcf. At 4,009 Bcf, total working gas is above the five-year historical range.
Draws from storage will start with next week's report.
As I pointed out in the newsletter, 4 TCF seems like a lot of gas but it is not that high compared to the five year average. Utilities need a lot of gas in storage locations spread throughout the U.S. to meet winter space heating demand. There are a lot more homes that heat with gas today than there were five years ago. Plus, we now have move gas fired power plants that run all year.
Draws from storage will start with next week's report.
As I pointed out in the newsletter, 4 TCF seems like a lot of gas but it is not that high compared to the five year average. Utilities need a lot of gas in storage locations spread throughout the U.S. to meet winter space heating demand. There are a lot more homes that heat with gas today than there were five years ago. Plus, we now have move gas fired power plants that run all year.