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77-Bcf draw from Lower 48 gas storage roughly matches expectations, average

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77-Bcf draw from Lower 48 gas storage roughly matches expectations, average

Natural gas storage operators drew a net 77 Bcf from Lower 48 inventories during the week ended Dec. 7, compared to a five-year-average withdrawal of 79 Bcf, the U.S. Energy Information Administration reported.

The draw, also about on par with the 79-Bcf draw projected by an S&P Global Platts survey, brought total Lower 48 working gas supply to 2,914 Bcf, or 722 Bcf below the year-ago level and 723 Bcf below the five-year average.

By region:

* In the East, inventories fell 20 Bcf on the week at 732 Bcf, down 15% from the year-ago level.

* In the Midwest, storage levels were down 29 Bcf at 885 Bcf, down 15% from the year-ago level.

* In the Mountain region, inventories dropped 8 Bcf at 160 Bcf, 25% under a year ago.

* In the Pacific region, stockpiles declined 15 Bcf at 238 Bcf, 22% below the year before.

* In the South Central region, inventories were down 7 Bcf at 898 Bcf, down 27% from a year ago.

Of that total, 271 Bcf was in salt cavern facilities and 627 Bcf was non-salt-cavern facilities. Working gas stocks grew 3% in salt cavern facilities from the previous week and fell 2.3% in non-salt-cavern facilities.

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