Natural Gas Storage Report - Mar 10
Posted: Thu Mar 10, 2016 11:16 am
Working gas in storage was 2,479 Bcf as of Friday, March 4, 2016, according to EIA estimates. This represents a net decline of 57 Bcf from the previous week. Stocks were 911 Bcf higher than last year at this time and 727 Bcf above the five-year average of 1,752 Bcf. At 2,479 Bcf, total working gas is above the five-year historical range.
5-Year average storage level at the end of the heating season is 1,600 Bcf. This year we'll end the season with ~2,300 Bcf in storage.
Supply/Demand of natural gas in the U.S. market is expected to by 6-9 Bcf per day tighter by year-end.
> Gas production now falling by 0.5 Bcf per day each month
> Demand increasing for power generation (replacing coal fired power plants) and exports (LNG and pipeline into Mexico)
> Canadian gas exports to the U.S. are also falling.
5-Year average storage level at the end of the heating season is 1,600 Bcf. This year we'll end the season with ~2,300 Bcf in storage.
Supply/Demand of natural gas in the U.S. market is expected to by 6-9 Bcf per day tighter by year-end.
> Gas production now falling by 0.5 Bcf per day each month
> Demand increasing for power generation (replacing coal fired power plants) and exports (LNG and pipeline into Mexico)
> Canadian gas exports to the U.S. are also falling.