Natural Gas Storage Report - April 28
Posted: Fri Apr 29, 2016 12:37 pm
Working gas in storage was 2,557 Bcf as of Friday, April 22, 2016, according to EIA estimates. This represents a net increase of 73 Bcf from the previous week. Stocks were 870 Bcf higher than last year at this time and 832 Bcf above the five-year average of 1,725 Bcf.
This is refill season. The U.S. has approximately 4,500 Bcf of commercial storage capacity. Over the last five years, gas in storage has been 3,800 to 4,000 Bcf to start the winter heating season. More homes and businesses heat with gas than five years ago, so utilities need more in storage each year to act as a buffer. Heating season starts mid-November.
This is refill season. The U.S. has approximately 4,500 Bcf of commercial storage capacity. Over the last five years, gas in storage has been 3,800 to 4,000 Bcf to start the winter heating season. More homes and businesses heat with gas than five years ago, so utilities need more in storage each year to act as a buffer. Heating season starts mid-November.