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81-Bcf weekly gas injection beats 5-year average, narrowly misses estimate

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81-Bcf weekly gas injection beats 5-year average, narrowly misses estimate

Natural gas storage operators deposited a net 81 Bcf into Lower 48 inventories in the week ended Oct. 12, above the five-year-average injection of 79 Bcf, the U.S. Energy Information Administration reported.

The build, which came in just shy of the 83-Bcf expectation reported by S&P Global Platts, brought total working gas supply in the Lower 48 to 3,037 Bcf, or 601 Bcf below the year-ago level and 605 Bcf below the five-year average.

By region:

* In the East, storage levels were up 22 Bcf on the week at 812 Bcf, 10% under the year-ago level.

* In the Midwest, storage levels rose 37 Bcf at 908 Bcf, 14% under a year earlier.

* In the Mountain region, stockpiles slid 3 Bcf at 177 Bcf, 21% below the year before.

* In the Pacific region, storage levels were up 2 Bcf at 264 Bcf, 16% under the year-ago level.

* In the South Central region, stockpiles grew 23 Bcf at 877 Bcf, 24% under a year earlier.

Of that total, 203 Bcf of gas was in salt cavern facilities and 673 Bcf was in non-salt-cavern facilities. Working gas stocks rose 6% in salt cavern facilities from the week before and gained 1.5% in non-salt-cavern facilities.

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