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Weekly US gas build exceeds analyst expectations at 109 Bcf

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Weekly US gas build exceeds analyst expectations at 109 Bcf

Storage operators deposited a net 109 Bcf into natural gas inventories in the Lower 48 in the week ended May 1, above the five-year average build of 74 Bcf, the U.S. Energy Information Administration reported.

The build, above the 105 Bcf injection forecast by an S&P Global Platts analyst survey, brought total working gas supply in the Lower 48 to 2,319 Bcf, or 796 Bcf above the year-ago level and 395 Bcf above the five-year average.

By region:

* In the East, stockpiles were up 19 Bcf on the week at 424 Bcf, 45% above the year before.

* In the Midwest, inventories grew 24 Bcf at 530 Bcf, 74% more than a year ago.

* In the Mountain region, stockpiles were up 8 Bcf at 111 Bcf, 44% higher than the year before.

* In the Pacific region, storage levels rose 10 Bcf at 228 Bcf, 43% above the year-ago level.

* In the South Central region, stockpiles rose 48 Bcf at 1,027 Bcf, 49% more than the year-ago level. Of that total, 331 Bcf of gas was in salt cavern facilities and 695 Bcf was non-salt-cavern. Working gas stocks rose 5% in salt cavern facilities from the previous week and were up 4.7% in non-salt-cavern facilities.

S&P Global Market Intelligence and S&P Global Platts are owned by S&P Global Inc.