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Weekly US gas storage build surpasses analyst forecast at 53 Bcf

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Weekly US gas storage build surpasses analyst forecast at 53 Bcf

  • Author S&P Global Commodity Insights
  • Theme Energy

Natural gas storage operators injected a net 53 Bcf into Lower 48 inventories during the week ended April 15, above the five-year average build of 42 Bcf, the U.S. Energy Information Administration reported.

The injection, which surpassed the 31 Bcf forecast by an S&P Global Platts analyst survey, brought total working gas supply to 1,450 Bcf, or 428 Bcf below the year-ago level and 292 Bcf below the five-year average.

By region:

* In the East, inventories rose by 9 Bcf to 238 Bcf, 26% lower than the year-ago level.

* In the Midwest, inventories increased by 11 Bcf to 304 Bcf, 28% under a year ago.

* In the Mountain region, storage levels decreased by 1 Bcf to 89 Bcf, down 25% from a year earlier.

* In the Pacific region, stockpiles were unchanged at 169 Bcf, down 19% from the year-ago level.

* In the South Central region, stockpiles climbed by 33 Bcf to 650 Bcf, down 20% from a year earlier. Of that total, 201 Bcf was in salt cavern facilities and 449 Bcf was in non-salt-cavern facilities. Working gas stocks grew 8.1% in salt cavern facilities from the week before and rose 4.2% in non-salt-cavern facilities.

S&P Global Platts is an offering of S&P Global Commodity Insights. S&P Global Commodity Insights is owned by S&P Global Inc.

S&P Global Commodity Insights produces content for distribution on S&P Capital IQ Pro.

  • Author
  • S&P Global Commodity Insights
  • Theme
  • Energy